NAR Says Homebuying Up in September, Inventory Down

National Association of Realtors

National Association of Realtors
Image: nar.realtor

With more than 15 years of experience in the real estate industry, Anne Ewasko provides expert guidance to her buying and selling clients as a real estate broker with Baird & Warner in Chicago, Illinois. In addition to her vast experience, Anne Ewasko is also a member of the National Association of Realtors.

According to data recently released by the National Association of Realtors, the existing home market saw a sizable bump last September, with first-time buyers accounting for 34 percent of all transactions. This is the highest rate of first-time home buying in more than four years. Additionally, all of the other major markets saw a bump in closings in September as well.

The data also suggests that the average price of a home rose more than five-and-a-half percent from the prior year at $234,200, which makes 55 straight months of gains over prior year figures.

Also, the total amount of houses for sale in September went up by 1.5 percent, but that figure is still nearly seven percent lower than the same time last year. It marks the 16th consecutive month that housing inventory has decreased compared to prior year figures.

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