The housing market closed out the month of June on somewhat uneven footing as pending sales pulled back slightly despite another record low for mortgage interest rates.
Momentum in high-end home-price growth changed course with the onset of the coronavirus pandemic, but the latest data shows luxury home prices are starting to rebound.
Prices of the most affordable third of homes in the U.S. climbed 5.5% year over year during the 12 weeks ending May 31, while prices of the most expensive third of homes increased just 2%.
The impact of the coronavirus shutdowns on homebuyer demand has so far been short and muted, even in some of the cities that have been the hardest-hit by unemployment during the recession.