Existing-home sales were up 1.5% month-over-month in September and 4.1% year-over-year, according to the National Association of Realtors.
Month-over-month sales increased in the Northeast, South and West but fell in the Midwest. Year-over-year, sales rose in the Northeast, Midwest and South, and remained flat in the West.
“As anticipated, falling mortgage rates are lifting home sales,” said NAR Chief Economist Dr. Lawrence Yun in a statement. “Improving housing affordability is also contributing to the increase in sales.”
Yun added that inventory is matching a five-year high but is below pre-COVID levels.
The median existing-home sales price for all housing types in September was $415,200—a 2.1% increase over September 2024.
The full report can be found here.
