October Sees First Annual Home Sales Gain in Over 3 Years Amid Rate Dip
TL;DR Summary
Existing-home sales in the U.S. increased by 3.4% in October, marking the first year-over-year gain since July 2021, according to the National Association of REALTORS®. Sales rose across all major regions, with a total annual rate of 3.96 million. The median home price also increased by 4% to $407,200. Inventory levels rose slightly, while mortgage rates remained elevated but are expected to stabilize. First-time buyers accounted for 27% of sales, and cash sales made up 27% of transactions.
Topics:top-news#existing-home-sales#home-prices#housing-inventory#mortgage-rates#real-estate#real-estate-market
- Existing-Home Sales Grew 3.4% in October; First Year-Over-Year Gain Since July 2021 National Association of REALTORS®
- Home sales surged in October, just before mortgage rates jumped CNBC
- Housing market posts first gain in more than 3 years with dip in mortgage rates KOMO News
- Home Sales Rose in October Following Decline in Mortgage Rates The Wall Street Journal
- US home sales rose in October, notching their first annual gain in more than 3 years The Associated Press
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