Current Market Data
Housing prices were down in all 20 cities tracked by the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.
New-home sales rose 7.5% month over month, while the median price of a new house surged to $493,000 from $455,700 in September and $427,300 a year ago, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.
That wasn’t the only good news as the end of the month neared.
If inflation continues to cool, the historic slowdown could ease.
The pace of new single-family home sales, meanwhile, fell 6.1% from September to 598,000.
From January through October of this year, the King County ZIP code had a median home sale price of $4.75 million.
The median existing-home price rose for the 128th month in a row, extending its record-breaking streak of increases.
Mid-week price cuts offer the most bargains in today’s market.
The number of homes under construction rose during the month, as homebuilders continued to work through a large backlog of homes.
The largest single-week decline in conventional mortgage rates since July brought the first increase in home-loan applications since September, the Mortgage Bankers Association said.