Archive · 20 Nov 2025
US Existing-Home Sales Surge to Eight-Month High in October
In October, the number of existing homes sold in the US increased to the highest level in eight months.
This happened because mortgage rates went down, making it cheaper for people to buy homes.
More expensive homes sold the most.
There are still many homes for sale, but they're taking longer to sell than usual.
This is good news for people who want to buy a home because they might have more power to negotiate and get discounts.
Sales of previously owned homes in the US rose to an annual rate of 4.1 million in October
This is the fastest pace in eight months, fueled by lower mortgage rates
Median sales price gained 2.1% year-over-year to $415,200
Sales were strongest among more expensive homes, particularly those costing $750,000 or more
Supply of previously owned homes for sale fell to 1.52 million, near its highest level since mid-2020
- Who
- Homebuyers in the US
- What
- Bought previously owned homes at a faster pace
- When
- In October 2023
- Where
- Nationwide, with the strongest sales in the South and Midwest
- Why
- Due to lower mortgage rates and a larger supply of homes
Homebuyers
Sellers
Power Dynamics
Homebuyers
Gained more power to negotiate discounts and concessions
Sellers
- Sales Rate
- 4.1 million (annualized)
- Change in Sales
- 1.2% increase from September
- Supply of Homes
- 1.52 million
- Days on Market
- 34 days
- First-Time Buyers
- 32% of closings