U.S. Existing-Home Sales Rose 1.5% in September to a 3.99 Million Pace as Inventory Climbed to 1.60 Million and the Median Price Reached $417,500
Washington — Existing-home sales in the United States rose 1.5 percent in September from August to a seasonally adjusted annual rate of 3.99 million, the National Association of Realtors said on Tuesday, October 13. Sales were down 2.2 percent from a year earlier, and NAR lowered its count for August, whose revised pace TheStreet put at 3.93 million.
Lawrence Yun, NAR's chief economist, said that despite the small monthly gain, August and September were the two slowest months for home sales this year, and that further increases in mortgage rates in recent weeks mean fewer buyers can qualify to purchase a home. He said higher inventory and lengthening days on market give buyers improved negotiating power.
Total housing inventory at the end of September was 1.60 million units, up 1.9 percent from August and 4.6 percent from a year earlier, representing a 4.8-month supply at the current sales pace — unchanged from August and up from 4.5 months a year ago. The median existing-home price was $417,500, up 1.3 percent from $412,300 a year earlier, the 39th consecutive month of year-over-year price gains. NAR's Housing Affordability Index registered 105.4, down from 106.7 a year ago. The average 30-year fixed mortgage rate was 6.86 percent in September, up from 6.67 percent in August and 6.35 percent a year earlier, according to Freddie Mac figures cited by NAR.
By region, September sales rose 2.8 percent in both the South and the West from August, were unchanged in the Midwest and fell 2.1 percent in the Northeast; compared with a year earlier, sales fell in all four regions, with the West posting the steepest drop at 5.2 percent. Homes typically spent 33 days on the market, up from 31 days in August and unchanged from a year earlier. First-time buyers accounted for 31 percent of sales, up from 30 percent in both August and a year ago, while cash sales made up 27 percent of transactions, unchanged from August and down from 30 percent a year earlier.
(Source: National Association of Realtors)
Source: National Association of Realtors
Published by GSM · USA (original Chinese edition)
Photo: 美国待售住宅资料图，Paul Sableman摄，Wikimedia Commons，CC BY 2.0
