0
0
0

RE/MAX: Pace of home sales slides in September as summer-selling season ends  

by John Yellig

Home sales in the 52 largest U.S. markets fell 13.3% between August and September in keeping with historical trends, RE/MAX said in its monthly National Housing Report. Year over year, closed transactions were down 3.1%. 

Tampa, Florida; Omaha; and Miami had the three greatest year-over-year declines in the pace of sales, respectively. 

Meanwhile, the median sales price for all metros was $429,000, down 1.4% from August but up 4.6% from September 2023. Hartford, Connecticut; Cleveland; and Providence, R.I., had the three greatest annual increases. 

The national close-to-list-price ratio was 99%, the same as it was in August and in September 2023. Miami; Bozeman, Montana; and Couer d’Alene, Idaho, had the lowest close-to-list-price ratios of the 52 markets surveyed. 

New listings were down 0.3% month over month but up 9.7% year over year. Bozeman, Phoenix and Las Vegas had the largest increases in new listings. 

The number of homes for sale nationally was up 6.4% month over month and 33.6% year over year. Manchester, N.H; Seattle; and Trenton, N.J., had the lowest inventory on a months’ supply basis. 

“While we’re seeing a slight cooling in sales, it’s encouraging to note that home inventory has been steadily increasing, giving buyers more options in the market,” RE/MAX President Amy Lessinger said in the report. “The consistency in sales prices and the fact that buyers are still paying 99% of asking price demonstrates the resiliency in today’s housing market. Lower rates could generate some increased activity as we end 2024 and start 2025.” 

 

Read More Related to This Post

Join the conversation

New Subscribe(3)

  • This field is for validation purposes and should be left unchanged.