Existing-Home Sales Continue to Slide

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The National Association of Realtors is reporting that existing-home sales fell 3.4% in September and down 4.1% from one year ago.  According to data, there were 5.15 million completed transactions in September with a median price (for all housing types) of $258,100.  In addition there were 1.88 million existing homes for sale at the end of September with properties typically staying on the market for 32 days.

“There is a clear shift in the market with another month of rising inventory on a year over year basis, though seasonal factors are leading to a third straight month of declining inventory…Homes will take a bit longer to sell compared to the super-heated fast pace seen earlier this year.”  Said Lawrence Yun, the NAR’s chief economist.

Click here to read the full release at the National Association of Realtors.

 

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Director of Education & Outreach, National Real Estate Investors Association

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