(HAR report): Days on Market (DOM), or the number of days it took the average home to sell, was 59 compared to 58 a year ago. Inventory expanded to a 4.0-months supply. That is up from 3.9 months year-over-year and is slightly below the 2019 peak of 4.3 months reached in June and July. The national inventory stands at 4.1 months, according to NAR.
Broken out by housing segment, October single-family sales performed as follows:
$1 - $99,999: decreased 15.5 percent
$100,000 - $149,999: decreased 11.4 percent
$150,000 - $249,999: increased 10.3 percent
$250,000 - $499,999: increased 12.9 percent
$500,000 - $749,999: increased 13.0 percent
$750,000 and above: unchanged
HAR also breaks out sales activity for just existing single-family homes. Existing home sales totaled 5,837 in October. That is up 7.0 percent versus the same month last year. The average sales price rose 1.5 percent to $286,395 while the median sales price increased 2.7 percent to $226,000.