A burst of activity in the Northeast was out front of a month-over-month escalation in existing home sales. Still, there was a year-over-year decline.
Existing home sales — including
single-family homes, townhomes, condominiums and co-operatives — came to 458,000 units during October.
With the latest activity, U.S. pre-owned residential property sales amounted to 4.659 million units during the 10 months that concluded on Oct. 31.
The most-recent numbers were reported Tuesday by the National Association of Realtors.
On a seasonally adjusted basis, the annual rate of sales climbed to 5.48 million
from a downwardly revised 5.37 million in September. But sales were slower than a downwardly revised 5.53 million home sales in October 2016.
The seasonally adjusted annual rate in the Northeast during November was 740,000, climbing from the preceding month by more than 4 percent —
the most of any region. A more than 2 percent rise left the rate in the West 1.27 million, while the South was up nearly 2 percent to 2.16 million, and the Midwest inched up almost a percent to 1.31 million.
The 1.80 million in U.S. inventory at the end of last month represented a 3.9-month supply.
October 2017’s median sales price was $247,000, and the average price was $288,400.
