Sales of Existing Homes Slump For 9th Straight Month
October sales fell 5.9% from September, and are down 28.4% year over year.
October sales fell 5.9% from September, and are down 28.4% year over year.
Chief Economist Lawrence Yun says prices could rise slightly in 2023.
The National Association of Realtors also said 46% of metros registered double-digit price increases.
The $5,000 grant can be applied toward two of the biggest barriers to homeownership: down payment and closing costs.
NAR reports that pending sales declined nationwide
National Association of Realtors says inventory also fell.
Lack of inventory, declining housing affordability cited most often.
Index fell 2% in August from July, and is down 24.2% year over year.
Median existing-home price also rose, the 126th consecutive month of year-over-year increases.