Meanwhile, 12.6 million renters say they were unable to pay rent last month, according to the latest Household Pulse survey from the U.S. Census. Homes sales are booming, because Americans who have savings, stable jobs and good credit scores are taking advantage of the cheapest mortgage rates on record to bargain shop for larger homes. Sales of previously owned homes, like the one Dietsche listed in central Pennsylvania, surged a record-setting 20.7 percent in June. ADADThe popular 30-year fixed mortgage recently fell below 3 percent for the first time since Freddie Mac began tracking mortgage rates in 1971. Realtors and housing experts say they are also seeing another factor at play driving home sales: demographics.

Source: Washington Post July 27, 2020 09:56 UTC