Current Climate – Just the facts . . .
Existing home sales receded in September following two consecutive months of increases.
Each of the four major regions saw sales decline.
While sales were down, median sales prices were up in all regions with increases ranging from 4.5% to 7.2%.
The median existing home price for all housing types was $272,100 in September, up 5.9% year-over-year.
September’s increase marks 91 straight months of year-over-year increases.
Total housing inventory at the end of the September was 1.83 million units, reflecting a 2.7% year-over-year decrease.
Unsold inventory was at a 4.1-month supply at the current sales pace in September, down from a 4.4-month rate a year ago.