- For the ninth consecutive month, existing-home sales declined to 4.43 million on a seasonally adjusted annual basis. Over the past year, sales have declined 28.4% from September.
- Compared to last year, the median existing-home price increased by 6.6% to $379,100.
- As of October 31, there were 1.22 million unsold existing homes, or 3.3 months' supply based on the current monthly sales pace.
The National Association of REALTORS® reports that existing-home sales declined for the ninth straight month in October. There was a decline in all four major U.S. regions month-over-month and year-over-year.
According to NAR, existing-home sales, which include single-family homes, townhomes, condominiums, and co-ops, decreased 5.9% from September to a seasonally adjusted annual rate of 4.43 million in October. There was a 28.4% drop in sales from October 2021 to October 2021 (down from 6.19 million).
For more information, please visit https://www.nar.realtor/newsroom/existing-home-sales-slumped-5-9-in-october.