More than half of the elderly in America have paid off their property and are living mortgage-free, a new survey shows.

Comparing current home sales figures to 2019 “reveals the stark shortage of supply we are facing,” says Redfin economist.

In August, rental rates for single-family units more than quadrupled from a year prior, according to CoreLogic.

Though NAR forecasts mortgage rates to average 3.3% in the final quarter of the year, housing groups expect the market to remain strong.

“As Dr. King called us to do, REALTORS® are leading the fight for fair housing and helping to build diverse, inclusive communities,” NAR president says on 10th anniversary.