On November 18, 2022, National Association of Realtors® (NAR) reported on median home value price was $379,100 in October of 2022 jumped 6.6% from the price of $355,700 in October of 2021.
Single family home sales were at annual rate of 3.95 million units in October of 2022 declined 6.4% from the annual rate of 4.22 million home sales in September of 2022, and dropped 28.2% from home sales rate in October of 2021. The median single family home price was $384,900 in October of 2022, increased 6.2% from October of 2021.
Condominium and co-op sales decreased 2.0% to an annual rate of 480,000 units in October of 2022 from September of 2021, and fell 30.4% from October of 2021. Median existing condo price was $331,000 in October of 2022, rose 10.1% from October of 2021.
Distressed homes sales were 1.0% in October of 2022 lower from 2.0% in September of 2022, but unchanged from 1.0% in October of 2021.
Lawrence Yun, NAR chief economist, stated "In October, 24% of homes received over the asking price. Conversely, homes sitting on the market for more than 120 days saw prices reduced by an average of 15.8%."
For more complete information, on NAR's October 2022 home sales stats, please click HERE
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