On November 21, 2019, National Association of Realtors® (NAR) reported that nationwide existing home sales gained 1.9% to annual rate of 5.46 million homes in October of 2019 from 5.36 million homes in September of 2019, and higher 4.6% from 5.22 million homes from October of 2018.
There were 1.77 million homes supplies of available inventory in October of 2019 lower 2.7% from September of 2019, declined 4.3% from 1.85 million homes in October of 2018; while, there were 3.9 months available inventory in October of 2019 decreased from to 3.9 months in September 2019, and lower from 4.3 months in October of 2018.
On average it took 36 days to sell a home in October of 2019, increased from 32 days in September of 2019, but same as from 36 days in October 2018.
First time buyers acquired 31.0% of homes in October of 2019, decreaed from 33.0% in September of 2019, but same as from 31.0% in October of 2018.
Cash buyers purchased 19.0% of all sales in October of 2019, rose from 17.0% in September of 2019, but dropped from 23.0% in October of 2018.
Investors purchased 14.0% of homes in October of 2019, same as from 14.0% in September of 2019, but fell from 15.0% in October of 2018, according to NAR on November 21, 2019.
Lawrence Yun, NAR chief economist, stated “We will likely continue to see sales climb as long as potential buyers are presented with an adequate supply of inventory.”
For more complete information, on NAR's October of 2019 existing home sales report, please click HERE
Comments(6)