US Existing-Home Sales Rise in September

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—rose 1.5% in September to a seasonally adjusted annual rate (SAAR) of 4.06 million. Year-over-year, sales were up 4.1%.

By region, sales increased month-over-month in the Northeast, South, and West, but declined in the Midwest. Compared with a year earlier, sales rose in the Northeast, Midwest, and South, and were unchanged in the West.

Total housing inventory at the end of September was 1.55 million units, up 1.3% from August and 14.0% from 1.36 million a year earlier. At the current sales pace, unsold inventory sits at a 4.6-month supply, unchanged from August but higher than the 4.2 months recorded in September 2024.

The median existing-home price for all housing types was $415,200, a 2.0% increase from $406,700 in September 2024. This marked the 27th consecutive month of year-over-year price gains.

According to NAR’s monthly REALTORS Confidence Index, properties typically remained on the market for 33 days in September, compared with 31 days in August and 28 days a year earlier.