Existing-Home Sales Inch Up

Nov 21, 2019

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

About the author

Phil Hall

Link copied

Published

Nov 21, 2019

Analysis and Data

Redfin: Homebuyers Gain Leverage, But Pending Sales Keep Sliding

Pending sales fall 16.4% from a year ago despite lower home prices and mortgage payments, as sellers retreat from a weakening market

Home prices are falling. Mortgage payments are easing. Sellers are becoming more willing to negotiate. Yet the housing market keeps losing buyers.Pending home sales fell 16.4% year over year during the four weeks ending Nov. 1, reaching their lowest level in Redfin's weekly ...

Tech

New AI-Run Mortgage Startup Builds Database Of 224,000 LOs

LenDb.ai is making LO records available to AI assistants, offering a potential new way for borrowers to find originators

A new mortgage technology startup is betting that borrowers will increasingly turn to artificial intelligence to find a loan originator, and it wants to make sure AI knows whom to recommend.LenDb.ai, launched Thursday by venture studio Draper Goren Blockchain, has assembled ...

Feb

Sacramento, CA

More from

Industry News

Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Industry News

Oct 29, 2026

Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Industry News

Oct 16, 2026

Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Industry News

Oct 14, 2026

PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Industry News

Oct 09, 2026

Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Industry News

Oct 09, 2026

Newrez, eXp Realty Form Joint Venture To Target Purchase Business

Revenos Mortgage is set to launch in early 2027, replacing eXp's joint venture with Kind Lending

Industry News

Oct 08, 2026

Popular