NAR

According to data from the National Association of Realtors (NAR) on Wednesday, U.S. existing-home sales descended 1.0% in September to a seasonally adjusted annual rate of 3.84 million, a 14-year low. The median existing-home sales price climbed 3.0% from September 2023 to $404,500.  

Nationally, historical data reveals a positive correlation between construction jobs and privately-owned housing starts.

Pending home sales ascended 0.6% in August.Month over month, contract signings rose in the Midwest, South and West but dropped in the Northeast.

Existing-home sales retreated 2.5% in August to a seasonally adjusted annual rate of 3.86 million. Sales slid 4.2% from one year ago.

The Federal Reserve has kept its interest rates unchanged for over a year. However, this is expected to change in the coming week.

Pending home sales fell 5.5% in July.Month over month, contract signings declined in all four U.S. regions.Compared to one year ago, pending home sales increased in the Northeast but decreased in the Midwest, South and West.

Housing affordability has long been a critical issue in the housing market, affecting individuals, families, and entire communities.

Looking at the data, let's focus on first-time buyers. First-time buyers have to be "demure and mindful" in many ways.

On Thursday, the National Association of Realtors released data showing that the U.S. existing-home sales grew 1.3% in July to a seasonally adjusted annual rate of 3.95 million, stopping a four-month sales decline that began in March. The median existing-home sales price elevated 4.2% from July 2023 to $422,600, the highest for July in the NAR data.