10/14/2024
NATIONAL MARKET UPDATE
The National Association of Realtors (NAR) reports that the inventory of homes for sale in September was 34% higher than last year. It’s now at the highest level in more than four years after 11 straight months of annual gains.
Plus, new listings are picking up and prices are stabilizing. The NAR says for the week ending October 5, 8% more sellers put their homes up for sale compared to a year ago and the median listing price was down 0.1% from a year ago.
Weekly mortgage applications slipped overall, but purchase application volume held steady—8% ahead of last year’s level—while refinance applications were a whopping 159% higher than last year.
