Sales of previously owned homes rose 1.5% in September to a seasonally adjusted annual rate of 4.06 million units, marking the strongest pace in seven months and 4.1% higher than a year earlier, according to the National Association of Realtors.
The South and Northeast saw the biggest year-over-year gains, while monthly sales were strongest in the West and slightly declined in the Midwest. The increase reflects contracts signed in July and August when mortgage rates were easing but still above today’s average.

NAR Chief Economist Lawrence Yun credited the improvement to falling mortgage rates and better affordability. Housing inventory rose 14% year-over-year to 1.55 million homes, matching a five-year high but still short of pre-pandemic levels, leaving a 4.6-month supply.

Despite more listings, tight supply kept prices climbing: the median home price hit $415,200, up 2.1% from last year and 53% above pre-COVID levels, marking 27 consecutive months of annual price gains.

High-end home sales led the market — transactions above $1 million jumped 20%, while sales under $100,000 rose just 3%. First-time buyers accounted for 30% of sales, up from 26% a year ago, and 30% of all purchases were all-cash. Homes stayed on the market longer, averaging 33 days, compared to 28 last year.

Source : https://cnb.cx/48LiXR3