The National Association of Realtors® (NAR) has reported that total existing home sales, which include single-family homes, townhomes, condominiums and co-ops, increased 1.9% in October., to a SAAR of 5.46 million. The 4-major regions were split again, with growth seen in the Midwest and South and a drop-in sales in the Northeast and the West. Total housing units available for sale at the end of October were at 1.77 million units, down approximately <-2.7%> from September and <-4.3% from one year ago. Unsold inventory sits at 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.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.
Existing-Home Sales Climb 1.9% in October