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Existing-Home Sales Drop 5.9% in October

The National Association of Realtors is reporting that existing home sales were down 5.9% in October to a seasonally-adjusted annual rate of 4.43 million (down 28.4% year over year). Total housing inventory at the end of October was 1.22 million units, down 0.8% from September and down 0.8% from one year ago. Unsold inventory sits at a 3.3-month supply at the current sales rate with properties remaining on the market for around 21 days. The median existing-home price for all housing types in July was $379,100, up 6.6% from one year ago. Continue reading HERE...

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