HOME SALES FALL TO LOWEST LEVELS SINCE 2010

Key Points:

  • Existing-home sales fell 2.0% in September from August to a seasonally adjusted annual rate of 3.96 million.
  • Existing-home sales fell 15.4% from one year ago.
  • The median existing-home sales price for September rose 2.8% from one year ago to $394,300.
  • Sales in September fell to the lowest rate in 13 years, dating back to 2010.
  • First-time buyers were responsible for 27% of sales in September, down from 29% in August and September 2022.
  • “As has been the case throughout this year, limited inventory and low housing affordability continue to hamper home sales,” said NAR Chief Economist Lawrence Yun.
  • The Right Facts will continue to monitor home sales.
Source