Benoit Properties International’s Post

Apr 18 Existing-home sales retreated 4.3% in March to a seasonally adjusted annual rate of 4.19 million. Sales fell 3.7% from the previous year.The median existing-home sales price rose 4.8% from March 2023 to $393,500 – the ninth consecutive month of year-over-year price gains and the highest price ever for the month of March.The inventory of unsold existing homes grew 4.7% from one month ago to 1.11 million at the end of March, or the equivalent of 3.2 months' supply at the current monthly sales pace.

Existing-home sales slid 2.0% in September to a seasonally adjusted annual rate of 3.96 million. Sales retreated 15.4% from one year ago. The median existing-home sales price grew 2.8% from one year ago to $394,300, marking the third consecutive month of year-over-year price increases. The inventory of unsold existing homes climbed 2.7% from the prior month to 1.13 million at the end of September, or the equivalent of 3.4 months' supply at the current monthly sales pace.

Key Highlights Existing-home sales slipped 0.7% in May to a seasonally adjusted annual rate of 4.11 million. Sales descended 2.8% from one year ago. The median existing-home sales price jumped 5.8% from May 2023 to $419,300 – the highest price ever recorded and the eleventh consecutive month of year-over-year price gains. The inventory of unsold existing homes grew 6.7% from the previous month to 1.28 million at the end of May, or the equivalent of 3.7 months' supply at the current monthly sales pace.

Key Highlights Existing-home sales retreated 0.7% in August to a seasonally adjusted annual rate of 4.04 million. Sales dropped 15.3% from one year ago. The median existing-home sales price climbed 3.9% from one year ago to $407,100 – the third consecutive month the median sales price surpassed $400,000. The inventory of unsold existing homes dipped 0.9% from the prior month to 1.1 million at the end of August, or the equivalent of 3.3 months' supply at the current monthly sales pace.

Key Highlights Existing-home sales fell 2.2% in July to a seasonally adjusted annual rate of 4.07 million. Sales receded 16.6% from one year ago. The median existing-home sales price rose 1.9% from one year ago to $406,700. It was the fourth time the monthly median sales price eclipsed $400,000, joining June 2023 ($410,000), June 2022 ($413,800) and May 2022 ($408,600). The inventory of unsold existing homes increased 3.7% from the previous month to 1.11 million at the end of July, or the equivalent of 3.3 months’ supply at the current monthly sales pace.

Key Highlights *Existing-home sales waned 1.0% in December to a seasonally adjusted annual rate of 3.78 million. Sales faded 6.2% from the previous year. The median existing-home sales price rose 4.4% from December 2022 to $382,600 – the sixth consecutive month of year-over-year price increases. *On an annual basis, existing-home sales (4.09 million) fell to the lowest level in nearly 30 years, while the median price reached a record high of $389,800 in 2023. *The inventory of unsold existing homes slumped 11.5% from the previous month to 1 million at the end of December, or the equivalent of 3.2 months' supply at the current monthly sales pace. #nationalassociationofrealtors #trusttheprocess #Matthewalbanorealtor

Key Highlights Existing-home sales retreated 4.3% in March to a seasonally adjusted annual rate of 4.19 million. Sales fell 3.7% from the previous year. The median existing-home sales price rose 4.8% from March 2023 to $393,500 – the ninth consecutive month of year-over-year price gains and the highest price ever for the month of March. The inventory of unsold existing homes grew 4.7% from one month ago to 1.11 million at the end of March, or the equivalent of 3.2 months' supply at the current monthly sales pace.

Key Highlights Existing-home sales waned 1.0% in December to a seasonally adjusted annual rate of 3.78 million. Sales faded 6.2% from the previous year. The median existing-home sales price rose 4.4% from December 2022 to $382,600 – the sixth consecutive month of year-over-year price increases.On an annual basis, existing-home sales (4.09 million) fell to the lowest level in nearly 30 years, while the median price reached a record high of $389,800 in 2023.The inventory of unsold existing homes slumped 11.5% from the previous month to 1 million at the end of December, or the equivalent of 3.2 months' supply at the current monthly sales pace.

In March, existing-home sales in the U.S. declined, particularly in the Midwest, South, and West regions, although they increased slightly in the Northeast. This decrease reflects a 4.3% drop from February and a 3.7% decrease year-over-year. Despite an increase in jobs since pre-COVID levels, stagnant interest rates have contributed to this sales stagnation. Housing inventory has increased, offering more options for buyers, but prices continue to rise, with the median price reaching $393,500, up 4.8% from the previous year. First-time buyers accounted for a higher percentage of sales compared to the previous month and year. Cash sales decreased slightly, while distressed sales remained stable. (NAR) https://lnkd.in/es4V34qR

Key Highlights Existing-home sales slid 2.0% in September to a seasonally adjusted annual rate of 3.96 million. Sales retreated 15.4% from one year ago. The median existing-home sales price grew 2.8% from one year ago to $394,300, marking the third consecutive month of year-over-year price increases. The inventory of unsold existing homes climbed 2.7% from the prior month to 1.13 million at the end of September, or the equivalent of 3.4 months' supply at the current monthly sales pace.