Existing Home Sales During October 2024

Existing Home Sales report for October 2024 was released by The National Association of Realtors® (NAR®) this morning:

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Previous Month: 3,830,000

• Actual: 3,960,000

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•  Change from Previous Month: +3.4% (+130,000 homes)
  
  
•  Change from A Year Ago: +2.9% (+110,000 homes)

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Inventory: 1,370,000 (4.2 months supply.)

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The yellow-highlighted, "actual" figure above represents the preliminary, seasonally adjusted annualized sales count of existing homes, co-ops and condominiums for the indicated month. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

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• Median Price: $407,200
  
  
• Price Change from A Year Ago: +4.00% (+$15,600)

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• Click here for historical prices and a chart.
  
  
• Click here for New Home Sales Data.

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From Today's Report:

"...'The worst of the downturn in home sales could be over, with increasing inventory leading to more transactions,' said NAR Chief Economist Lawrence Yun. 'Additional job gains and continued economic growth appear assured, resulting in growing housing demand. However, for most first-time homebuyers, mortgage financing is critically important. While mortgage rates remain elevated, they are expected to stabilize.'

'The ongoing price gains mean increasing wealth for homeowners nationwide,' Yun added. 'Additional inventory and more home building activity will help price increases moderate next year'..."

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INFOGRAPHIC: Existing Home Sales
OCTOBER 2024 UPDATE

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• Click here to view the NAR data.

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