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Existing home sales increased 1.2% in October and 1.7% over the year. Housing inventory moved down to 1.52 million units, reflecting a 0.7% drop from September but a 10.9% jump from last year. The median existing home price was $415,200, up 2.1% from last year. The Midwest and South posted monthly increases in existing home sales, while the Northeast saw no change, and the West registered a decline in October.

Single-family home sales rose 0.8% from September and 1.9% from October 2024, with the median price increasing 2.2% from last year to $420,600. Condo and co-op sales increased 5.4% over the month but stayed the same over the year at 390,000 units in October. Meanwhile, the median price for condos and co-ops inched up 0.9% from the prior year to $363,700.

Homes were typically on the market for 34 days in October, up from 33 days in September and 29 days in October 2024. First-time buyers made up 32% of sales in October, up from 30% in September and 27% in October 2024.