Skip to main content

Existing-Home Sales Inch Up

Phil Hall
Nov 21, 2019
Photo credit: Getty Images/designer491

Total existing-home sales during October were up by 1.9 percent from September to a seasonally-adjusted annual rate of 5.46 million, according to new data from the National Association of Realtors (NAR). Compared to the previous year, overall sales were up by 4.6 percent from the 5.22 million level set in October 2018.
The median existing-home price for all housing types in October was $270,900, up 6.2 percent from the $255,100 price from one year earlier. October’s price increase marks 92 straight months of year-over-year gains.
But while sales and prices were up, the total housing inventory at the end of October fell to 1.77 million units, a 2.7 percent drop from September and a 4.3 percent decline from one year ago when the inventory was at 1.85 million. Unsold inventory held a 3.9-month supply at the current sales pace, down from 4.1 months in September and from the 4.3-month figure recorded in October 2018. Properties typically remained on the market for 36 days in October, up from 32 days in September and unchanged from October 2018.
“The issuance of more housing permits is a very positive sign and a good step toward more inventory,” said NAR Chief Economist Lawrence Yun, citing this week’s data for housing starts. “In order to better counter and even slow the increase in housing prices, home builders will have to bring additional homes on the market.”
Total existing-home sales during October were up by 1.9 percent from September to a seasonally-adjusted annual rate of 5.46 million

Nov 21, 2019
Fidelity National Financial Hit By Cyberattack

Industry-leading provider of title insurance and settlement services radio silent on reported breach.

Nov 28, 2023
Citizens Bank Bids Farewell To Wholesale Mortgage Channel

In a strategic pivot, the Providence-based banking giant will stop accepting new wholesale mortgage submissions.

Nov 16, 2023
Surprising Surge In Mortgage Customer Satisfaction, J.D. Power Study Reveals

Study found first-time homebuyers were harder to satisfy, customers don't just shop rates.

Nov 16, 2023
Women Continue To Defy Homebuying Challenges, Representing 22% Of The Market, Survey Finds

Young, educated, diverse, and increasingly savvy, women homebuyers navigate homeownership hurdles with determination.

Nov 15, 2023 Stays Bullish On Industry Disruption Amid Q3 Losses

Despite a $340 million Q3 loss,'s leadership emphasizes cost reductions, automation, and investment in technology.

Nov 15, 2023
Fannie Mae Extends Rent Payment Pilot

Positive Rent Payment program offers financial stability and opportunities.

Nov 14, 2023