Homebuyer demand is rising as mortgage rates continue to decline, according to a new Redfin report.

Data from the PEW Trust shows that investment companies make up approximately a quarter of the entire single-family home market across the U.S.

October’s 4.6% monthly drop follows a 10.2% decline in September, the National Association of REALTORS® reported. 

Housing prices were down in all 20 cities tracked by the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.

New-home sales rose 7.5% month over month, while the median price of a new house surged to $493,000 from $455,700 in September and $427,300 a year ago, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.   

That wasn’t the only good news as the end of the month neared.

If inflation continues to cool, the historic slowdown could ease.

The pace of new single-family home sales, meanwhile, fell 6.1% from September to 598,000. 

From January through October of this year, the Maricopa County ZIP code had a median home sale price of $2.9 million. 

The median existing-home price rose for the 128th month in a row, extending its record-breaking streak of increases.