Overview
- The average 30-year fixed mortgage rate fell to 6.19%, its lowest level in more than a year, according to Freddie Mac.
- Existing-home sales rose 1.5% in September to a 4.06 million annual pace, the fastest since February, National Association of Realtors data show.
- Listed inventory climbed to about 1.55 million homes, up 14% from a year earlier, equal to 4.6 months of supply.
- The median existing-home price reached $415,200, up 2.1% year over year, marking the 27th straight month of annual gains.
- Zillow reports an unseasonably resilient September with new listings up 3% year over year and more buyer-leaning metros, while many agents say clients are waiting for further rate declines as markets price in additional Fed cuts.