⁍ The National Association of Realtors this week reported U.S. existing home sales surged in September to levels not seen in more than 14 years.

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⁍ The median price of an existing home is nearly 15% higher than last year.

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⁍ However, mortgage delinquencies could stay elevated throughout 2021 and into 2022 at the current pace of improvement.

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– The housing market has been one of the few bright spots since the coronavirus pandemic slammed the US economy, a boom that at a glance would appear to be aiding the financial wellbeing of American homeowners and ought to offer a tailwind to President Trump heading into the home stretch of the election. But as with so much else going on in the recovery, the benefits are far from evenly distributed—and sentiment heading into the election will vary based on how individual voters are faring, offering no clear lift to the incumbent Republican over his Democratic challenger, Joe Biden. “I don’t think there’s any question that we’ve seen significant improvement,” Jim Baird, chief investment officer for Plante Moran Financial Advisors, tells Reuters. “The question is ‘is it enough?'” The National Association of Realtors this week reported US existing home sales surged in September to levels not seen in more than 14 years. The median price of an existing home is nearly 15% higher than last year. Sales in resort areas have been particularly strong, the NAR said this week. That outsized gains for homes is another sign the crisis is falling harder on lower-income households. Many current homeowners who lost jobs or had their pay cut significantly during the crisis are also struggling. It is too soon to know if the 3 million homeowners in forbearance will be able to resume mortgage payments or if foreclosure moratoriums will be extended.