"Prices still at record levels even as existing-home sales tick up"
Posted by Grossman & Jones Group on
Key takeaways
- Existing-home sales in October 2024 rose 3.4 percent from the previous month and 2.9 percent from a year ago, according to the National Association of Realtors — the metric’s first annual gain since 2021.
- The nationwide median sale price was $407,200, up 4 percent from last year and the highest October median on record.
- Inventory in October was at a 4.2-month supply — still tight, but a sign that buyers are gaining more bargaining power.
Bankrate.com writes, "The housing market suffered from sluggish sales again in October 2024, but sales volumes finally are looking up. And home prices remain near record highs, a new report by the National Association of Realtors (NAR) shows.
The median home-sale price marked the highest…
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