"Higher mortgage rates are slowing home sales this fall, but the shifting market is still creating fresh opportunities for buyers and sellers who are willing to make a move. Existing-home sales fell 5.5% in October (from) September and down 8.8% annually." nar.realtor/news/real-esta…
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Buyer competition eased in October, with 11% of homes selling above list price, down from 19% a year ago. Homes received an average of 2 offers, while all-cash buyers accounted for 29% of sales.
More on what's happening in the market: nar.realtor/research-and-s…
More on what's happening in the market: nar.realtor/research-and-s…
High mortgage rates have pushed home sales to their lowest pace since 2010. But with 88 million homeowners gaining wealth and pent-up demand building, lower rates could bring more buyers back. #NAREHS
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Existing-home sales declined 5.5% in October to 3.75 million. Meanwhile, inventory increased to a 5.1-month supply, giving buyers more options even as the median home price rose 0.4% from a year ago. #NAREHS
nar.realtor/newsroom/exist…
nar.realtor/newsroom/exist…
Housing still follows seasonal patterns, but mortgage rates are shifting the timing. September sales fell just 4.7%, well below the typical 15% decline, after higher summer rates pushed much of the seasonal slowdown into August.