Real estate

FILE - In this May 22, 2020 file photo a sold sign stands in front of a house in Brighton, N.Y. U.S. average rates on long-term mortgages declined this week, remaining near historic lows as the key 30-year loan slipped back below 3%. Mortgage buyer Freddie Mac reports the average rate on the 30-year home loan eased to 2.99% from 3.01% last week. (AP Photo/Ted Shaffrey, File)

This Monday, April 27, 2020 photo shows a sale pending sign on a home in Mount Lebanon, Pa. The number of Americans signing contracts to buy homes rose for the second straight month as the housing market appears to be recovering from a devastating spring freeze because of the coronavirus outbreak. The National Association of Realtors said Wednesday, July 29, that its index of pending sales rose 16.6% to 116.1 in June.(AP Photo/Gene J. Puskar)

FILE - On March 18, 2020, model homes and for sale signs line the streets as construction continues at a housing plan in Zelienople, Pa. U.S. home prices grew more slowly in May 2020, but continued to show resilience in the face of the coronavirus outbreak. (AP Photo/Keith Srakocic, File)

Model homes and for sale signs line the streets as construction continues at a housing plan in Zelienople, Pa., Wednesday, March 18, 2020. U.S. new home sales fell 4.4% in February with bigger declines expected in coming months as the coronavirus puts a major crimp on home sales. (AP Photo/Keith Srakocic)

FILE - In this April 1, 2020 photo, a "For Sale" sign stands in front of a home that is in the process of being sold in Monroe, Wash., outside of Seattle. Americans stepped up their home purchases in June, clawing back some of the losses after the pandemic had caused sales to crater in the prior three months. (AP Photo/Elaine Thompson, File)

Democratic presidential candidate, former Vice President Joe Biden, speaks during a campaign event, Tuesday, July 14, 2020, in Wilmington, Del. (AP Photo/Patrick Semansky)

In this March 25, 2020, photo, a construction worker walks along a roof on a new home in Nashville, Tenn. US home construction rebounded 4.3% in May after steep declines caused by shutdowns due to the coronavirus. The Commerce Department reported Wednesday, June 17, that new homes were started at a seasonally adjusted annual rate of 974,000 last month after steep declines in April and March.(AP Photo/Mark Humphrey)

FILE This April 16, 2020 photo shows a real estate company sign marking a home for sale in Harmony, Pa. U.S. homeowners are seizing on historically low mortgage rates to refinance their mortgages. Refinancing is outpacing home purchase loans as job losses and economic uncertainty put off would-be buyers. (AP Photo/Keith Srakocic)

FILE - In this May 22, 2020 file photo a sold sign stands in front of a house in Brighton, N.Y. Average rates on long-term mortgages continue to fall to new record lows, as the key 30-year loan dropped below 3% for the first time in 50 years. The stagnant economic recovery in the face of the coronavirus pandemic is keeping inflation tamped down despite pent-up homebuying demand. (AP Photo/Ted Shaffrey, File)