The temperature may be going down as we inch closer to winter, but home prices in the U.S. are still heating up — and there are few signs of cooling.
Normally, home sales peak in the summer and slow once kids start returning to school. That was not the case this year.
In the third quarter of 2020, median single-family home prices rose in all 181 metropolitan areas tracked by the National Association of Realtors. Of those, 117 saw double-digit price growth from a year earlier. Meanwhile, the median sales price of an existing home sold in October 2020 hit $313,000, up from $271,100 in October 2019 and $310,600 in August, according to NAR.
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