According to the National Association of Realtors, real estate sales increased in October 2021, marking the second month in a row.
The market gained one month in the top four US territories, one month fell and the fourth was the stable zone in October. Year after year, sales fell in all regions.
Total sales of real estate, finished businesses including single-family homes, townhouses, condominiums, and parties, rose 0.8% from September to an annual turnover of 6.34 million in October. Sales fell 5.8% from last year (6.73 million in October 2020).
Lawrence Yun, the chief economist at NAR, said, “Real estate continues to expand, despite low commodity prices and increasing challenges.” “Some potential buyers may want to seek flexible housing security flexibility, which may change due to price pressures, such as rising prices and rising consumer prices.”
Real estate prices at the end of October were 1.25 units, down 0.8% from September and down 12.0% from a year earlier (1.42 million). The unsold stock list is on the market for 2.4 months now, equal to September supply, and down from 2.5 months to October 2020.
Housing prices for all home types in October were $353,900, up 13.1% from October 2020 ($313,000), as prices rose across all regions. This is a vertical mark of 116 months increasing annually, the longest length on record.
Yun said, “In some industries, there is a continuous transformation at work everywhere, and this has helped expand the market in some parts of the country.” “Monitor the stock market and whenever real estate prices are working to boost the consumer economy as well as, in addition to remote operations, the growth of the residential and leisure segments.”
The stock is usually on the market for October 18, from September 17, and down from October 21, 2020. Eighty-two percent of homes sold in May October 2021 are on the market in less than a month.
In October, first-time buyers made up 29% of the market, up from 28% in September and down to 32% in October 2020. The 2021 NAR Buyer and Seller Profile – released earlier this month – is the season’s first annual share. buyers are 34%.
Individual investors or second-party home buyers, including most of the stock market, bought 17% of homes in October, up from 13% in September and up from 14% in October 2020. Total inflation hit 24% of businesses in October, up from 23% in September and up from 19% in October 2020.
Crisis sales – whether early or short-term closings – accounted for less than 1% of sales in October, from last month to October 2020.
According to Freddie Mac, the median dedication rate for a 30-year mortgage loan was 3.07 in October, up from 2.90% in September. by 2020 the promised average rate is 3.11%.
Individual Families with Condos / Connections – Business at work
Individual household sales rose at an annual rate of 5.66 million in October, up 1.3% from 5.59 million in September and down 5.8% from a year earlier. The per capita housing value in October was $360,800, up 13.5% from October 2020.
The condominium units currently recorded support prices fluctuating annually at 680,000 units in October, down 2.9% from 700,000 in September and down 5.6% from a year ago. The value of the house in October was $296,700, an 8.7% annual increase.
Current real estate prices in the Northeast fell 2.6% in October, recording an annual rate of 750,000, down 13.8% from October 2020. The median price in the Northeast was $379,100, up 6.4% from a year ago.
Current home sales in the Midwest were up 4.2% at an annual rate of 1,500,000 in October, down 6.3% from a year earlier. Median earnings in the Midwest were $259,800, a 7.8% increase from October 2020.
Southern real estate sales rose 0.4% in October, hitting an annualized rate of 2,780,000, down 3.5% from a year earlier. The median income in the South was $315,500, up 16.1% from a year ago.
Home sales were down or down in the West compared to last month’s level, recording an annual rate of 1.310,000 in October, down 5.1% from a year earlier. The median income in the West was $507,200, up 7.7% from October 2020.