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Existing-home sales increased 1.5% in September to a seasonally adjusted annual rate of 3.99 million, according to NAR. Housing inventory rose to 1.60 million units, representing a 4.8-month supply, while the median existing-home price climbed 1.3% year-over-year to $417,500. Sales gains in the South and West were…
Existing home sales rose after three months of declines as improved inventory gave buyers more negotiating power. As buyers wait for rate relief, homes are sitting on the market longer and for-sale inventory reached the highest level in over a decade. Despite the increase, August and September sales remained the…
Sales fell 2.2% compared with September last year. The latest sales tally is slightly above the 3.98 million pace economists were expecting, according to FactSet.