Welcome to This Month in Real Estate for October 2017. Here are just a few of the national real estate numbers we’re tracking for you right now.
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The median home price decreased to $253,500 in August, which was down 1.8 percent from July and up 5.6 percent from August of last year. The median home price has increased by approximately $13,500 in the past year alone.
The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of approximately 5.35 million homes during the month of August. This was a decrease of 1.7 percent from July and an increase of 0.2 percent from August of last year.
INVENTORY – MONTH’S SUPPLY
There was a 4.2-month supply of housing inventory in August, which was flat from July. The total number of available homes for sale has decreased by 6.7 percent compared to August of last year.