Mortgage & housing market update
Existing-Home Sales Edge Higher While Buyers Gain Options
September sales improved slightly, but activity remained subdued as inventory increased and homes took longer to sell.
Housing Brief reports that September existing-home sales increased 1.5% to a 3.99 million annualized pace. Inventory reached 1.60 million homes, up 4.6% from a year earlier.
The median marketing period increased to 33 days and supply stood at 4.8 months. These national measures suggest more choice, but conditions vary by neighborhood.
For Florida and Georgia buyers, review comparable sales and seller concessions alongside the complete monthly payment before making an offer.
Mortgage-rate information is provided for education only and is not a rate quote, offer, or commitment to lend. Actual rates, fees and terms vary by borrower, property, loan program, market conditions and lock period. Home-price indexes are not appraisals or forecasts for a specific property.
Source reporting: Housing Brief Housing News. This market update is an original summary and commentary prepared by the Carson Home Team.