National market update

Existing-Home Sales Grow 2.0 Percent in October

WASHINGTON (November 21, 2017) — Existing-home sales increased in October to their strongest pace since earlier this summer, but continual supply shortages led to fewer closings on an annual basis for the second straight month, according to the National Association of Realtors®.
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America Rediscovers Its Love of the Front Porch

In the 20th century, porches couldn’t compete with TV and air conditioning. Now this classic feature of American homes is staging a comeback as something more stylish and image-conscious than ever before.
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National housing indicators

Existing home sales (Oct)

5.48 millions units*

Existing home median price (Oct)

$247,000

Housing Starts (Oct)

1.290 millions units*

New home sales (Sep)

0.667 millions units*

*Seasonally adjusted annual rate. Source: NATIONAL ASSOCIATION OF REALTORS®.

National economic indicators

Home ownership

3rd Quarter 2017

63.9%

2nd Quarter 2017

63.7%

The homeownership rate of 63.9 percent was not statistically different from the rates in the third quarter 2016 (63.5 percent) or the second quarter 2017 (63.7 percent).

New home sales

September 2017

+18.9%

October 2017

+6.2%

Sales of new single-family houses in October 2017 were at a seasonally adjusted annual rate of 685,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 6.2 percent (±18.0 percent)* above the revised September rate of 645,000 and is 18.7 percent (±23.5 percent)* above the October 2016 estimate of 577,000.

Source: U.S. CENSUS BUREAU

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Regional market updates

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