The median home price decreased to $247,000 in October, which was down 0.2 percent from September and up 5.5 percent from October of last year. The median home price has increased by approximately $12,900 in the past year alone.
The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of approximately 5.5 million homes during the month of October. This was an increase of 2.0 percent from September and a decrease of 0.9 percent from October of last year.
Inventory – Month’s Supply
There was a 3.9-month supply of housing inventory in October, which was a 7.1 percent decrease from September. The total number of available homes for sale has decreased by 11.4 percent compared to October of last year.
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