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

Industry News

Newfi And Addy AI Announce Partnership

Newfi and Addy AI today announced a collaboration focused on the continued evolution of artificial intelligence in mortgage lending

Newfi and Addy AI today announced a collaboration focused on the continued evolution of artificial intelligence in mortgage lending.Newfi has built innovative lending products and a modern approach to the mortgage market. As the industry evolves, the company continues to exp...

Analysis and Data

Smaller Down Payments Give Buyers More Room, But Rates Limit The Savings

The typical down payment fell 9% from a year ago, while shifting market conditions are giving originators different affordability conversations across the country

Homebuyers are putting less money down than they were a year ago, another sign that increased inventory and greater negotiating room are changing the purchase market.The typical down payment fell to $27,100 in the second quarter of 2026, the lowest second-quarter dollar amou...

Oct

Denver, CO

More from

Industry News

CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Industry News

Sep 23, 2026

Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Industry News

Sep 23, 2026

Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

C-Suite Strategies

Sep 23, 2026

Fannie Changes How Rent From A Former Home Counts

Fannie now prohibits leases for departing residences and permits market-analysis tools instead of Form 1007, creating a key documentation difference from Freddie Mac

Regulation and Compliance

Sep 22, 2026

MPF Expands Eligibility For Manufactured And Renovation Loans

The Mortgage Partnership Finance Program has expanded MPF Traditional eligibility for affordable loans, manufactured homes, renovations, and lender-funded assistance

Industry News

Sep 22, 2026