Some of what we're seeing might be making up for a spring in which people were stuck at home and not buying.
The numbers suggest that the reopening of major parts of the country gave a boost to the housing market.
Demand is still outstripping housing supply.
Los Angeles mortgage broker Vivian Gueler is expecting a drop in the value of real estate.
But the uncertainty that's driving those rates down is causing some to have second thoughts.
The Census Bureau reported housing starts fell 3.6% in January 2020 from the previous month, but rose 21.4% from January 2019.
With homeownership out of reach for many young people, journalist Angela Lashbrook called Zillow "a place we can imagine ourselves in a new reality."
Research suggests a decline in housing affordability can significantly reduce job growth.