| September 2020 Market Update |
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According to the National Association of REALTORS®, existing home sales continued to increase for the second consecutive month in July 2020. |
| Interest Rates |
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According to Freddie Mac, 30-year fixed rates decreased from 3.01% to 2.99%. This rate remains well below the historical average of 8.90%. |
| Home Sales |
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| The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of 5.68 million in July, up 20.9% from June and 5.4% above the 5.39 million sales pace from a year ago. |
| Home Price |
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| The median home price increased to $304,300 in July, up 3.0% from June. The median home price has increased by 8.5% in the past year alone. |
| Inventory |
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| There was a 3.1-month supply of housing inventory in July 2020 that has decreased since June. The total number of available homes for sale has decreased by 26.2% compared to July of last year. |
Home Flipping Hits 14-Year High
