Latest News

NAR: October existing-home sales cool but low inventory drives prices

Nov 20, 2013
Existing-home sales declined for the second consecutive month in October, while constrained inventory means home prices continue to see double-digit year-over-year gains, according to the National Association of REALTORS (NAR).

Total existing-home sales, which include single-family townhomes, condominiums and co-ops, fell 3.2 percent to a seasonally adjusted annual rate of 5.12 million in October. October closings were 6 percent higher than the 4.83 million-unit pace of October 2012.

In the Northeast, existing-home sales declined 2.9 percent to an annual rate of 670,000 in October, but are 11.7 percent higher than year-ago levels. 

To read the entire NAR press release, click here.
Featured Content

Empire State housing market stays hot in January

New York State home sales remained strong to start the new year with 8,698 closed sales, falling just shy of the 2017 record for January, according to the annual housing market report released by the New York State Association of REALTORS. The January statewide median sales price of $266,000 represented an increase of 8.4 percent from a year ago. Click here to read more.