United States existing home sales increased 1.5 percent in September
United States existing home sales rose to a seasonally adjusted annual pace of 3.99 million units in September, even as prices reached record levels.
FTMQ Real Estate, written by our newsroom0 views
United States existing home sales rose 1.5 percent in September to a seasonally adjusted annual rate of 3.99 million units, according to reports from Hindustan Times, the National Association of Realtors, and IndexBox. Hindustan Times reported that the National Association of Realtors released the figures on Tuesday. [1][2][3]
The sales total exceeded market expectations. Hindustan Times reported that economists polled by Reuters had projected sales to fall to a seasonally adjusted annual rate of 3.95 million units. [1]
Market affordability challenges persisted despite the gain in transactions. Hindustan Times reported that high mortgage rates and record home prices of $417,500 continued to constrain prospective buyers. [1]
Housing inventory levels expanded during the month. IndexBox reported that housing inventory in September reached its highest level since 2019. [3]
In short
- United States existing home sales increased 1.5 percent in September to an annual rate of 3.99 million units.
- Economists polled by Reuters had expected sales to drop to an annual rate of 3.95 million units.
- Home prices reached a record level of $417,500 in September.
- Housing inventory in September reached its highest point since 2019.
Sources
Every paragraph above points to the numbered items it rests on. Read the originals here.
- [1]Why is the US housing market struggling? Sales rise 1.5% as prices hit record $417,500Hindustan Times, 21d ago (the report this story comes from)
- [2]Existing-Home Sales Increased 1.5% in September, According to NAR ReportNational Association of REALTORS®, 21d ago
- [3]US Existing Home Sales Rise 1.5% in September as Inventory Hits Highest Since 2019 - News and StatisticsIndexBox, 21d ago
Background
- [4]Real estate economics on Wikipedia
- [5]Sales on Grokipedia
Our newsroom writes these reports with the help of software, from the 5 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.
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