Video Transcript
I keep reading that the housing market is bad right now, but the data is going the other way. According to the National Association of REALTORS®, in October, during the government shutdown, Existing Home Sales increased from the month prior and the year prior, reaching 4.1 million on an annualized basis with months of supply ticking down to 4.4 months. That's how long it would take for every home on the market to sell at the current pace of sales. Anything less than 6 months said to be a seller's market, good for rising prices. Sales to investors were down. Sales to first-time buyers were up. And two-thirds of all sales happened at prices under $500,000. Every market varies so what you see locally will not match these figures exactly, but the data is showing that housing continues to advance overall. I'm Dan with Homebuyer.com. Happy homebuying.
More First-Time Home Buyers, Fewer Investors: NAR Existing Home Sales
According to the National Association of REALTORS®, Existing Home Sales increased to 4.1 million on an annualized basis in October, despite the government shutdown. Sales to first-time buyers rose, while investor purchases declined, with two-thirds of sales priced under $500,000.
Video Transcript
I keep reading that the housing market is bad right now, but the data is going the other way. According to the National Association of REALTORS®, in October, during the government shutdown, Existing Home Sales increased from the month prior and the year prior, reaching 4.1 million on an annualized basis with months of supply ticking down to 4.4 months. That's how long it would take for every home on the market to sell at the current pace of sales. Anything less than 6 months said to be a seller's market, good for rising prices. Sales to investors were down. Sales to first-time buyers were up. And two-thirds of all sales happened at prices under $500,000. Every market varies so what you see locally will not match these figures exactly, but the data is showing that housing continues to advance overall. I'm Dan with Homebuyer.com. Happy homebuying.
