Existing Home Sales Rise 1.9% in October

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.