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Data: Investing.com; Chart: Naema Ahmed/Axios

Existing home sales rose by 25% in July over June's red-hot pace, the biggest monthly gain on record for the data series that goes back to 1968.

Why it matters: Residential home sales have been rising at a breakneck pace since most nationwide lockdowns ended in May.

  • July's record 25% increase follows a 21% monthly increase in June.
  • There were 5.86 million homes sold during the month, and sales hit the highest rate since December 2006.

Why you'll hear about this again: The median sale price of a used home rose to $304,100 in July, the first time the metric has ever risen over $300,000.

  • Home prices have risen 8.5% year over year.
  • The median price of a used home in June was $294,500, up from $283,600 in May.

Go deeper

Cyber Monday sales projected to grow 15%-35% from 2019

A USPS worker unpacks packages from a truck on Dec. 02, 2019 in San Francisco. Photo: Justin Sullivan/Getty Images

Cyber Monday has never been more meaningless, given the kickoff of the holiday season this year has been more virtual than ever thanks to the pandemic.

Why it matters: Consumers spent roughly $9 billion online on Black Friday, a 22% jump from last year's previously record high, according to Adobe Analytics.

Twitter debuts subscription products to help double revenue by 2023

Photo: Cole Burston/Bloomberg via Getty Images

Twitter said Thursday that it plans to increase the amount of money it makes off of its users by allowing them to pay creators directly for content they like.

Why it matters: The company is trying to broaden its revenue stream away from being dependent mostly on ads, and particularly on ads from big brands.

DHS directing $77 million to combat domestic violent extremism in states, cities

DHS Secretary Alejandro Mayorkas. Photo: Tasos Katopodis/Getty Images

For the first time, states and localities will spend at least $77 million of Department of Homeland Security grant money on combatting domestic violent extremism, DHS Secretary Alejandro Mayorkas announced on Thursday.

Why it matters: Domestic terrorism has been on the rise in the U.S., spurred on by growing polarization and the mainstreaming of online conspiracy theories. In the wake of the Jan. 6 Capitol attack, Mayorkas has made fighting the problem a "National Priority Area."