Home sales increased year over year.
The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of 5.38 million in September, down 2.2% from August and 3.9% above the 5.18 million sales pace from a year ago.
Home prices have continued to increase year-over-year.
The median home price decreased to $272,100 in September, down 2.4% from August. The median home price has increased by approximately $15,200 in the past year alone.
Inventory – Month’s Supply
There was a 4.1-month supply of housing inventory in September 2019, up 2.5% from August. The total number of available homes for sale has decreased by 6.8% compared to September of last year.
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