US Existing-Home Sales Increase in October

On Thursday, the National Association of Realtors (NAR) reported that total existing-home sales—completed transactions for single-family homes, townhomes, condominiums, and co-ops—increased 1.2% in October to a seasonally adjusted annual rate (SAAR) of 4.10 million. Year-over-year, sales were 1.7% higher.

By region, sales rose month-over-month in the Midwest and South, held steady in the Northeast, and declined in the West. Compared to a year ago, sales increased in the Northeast, Midwest, and South, but fell in the West.

Total housing inventory at the end of October was 1.52 million units, down 0.7% from September but up 10.9% from October 2024, when inventory stood at 1.37 million units. At the current sales pace, unsold inventory sits at a 4.4-month supply, down from 4.5 months in September but up from 4.1 months a year earlier.

The median existing-home price for all housing types was $415,200 in October, a 2.01% increase from $406,800 a year ago. This marked the 28th consecutive month of year-over-year price gains.

According to NAR’s monthly REALTORS Confidence Index, properties typically remained on the market for 34 days in October, compared with 33 days in September and 29 days in October 2024.