Existing home sales surprised to the upside in September—up 1.5% month-over-month when the street was expecting a decline. Prior month was also revised lower, making this bounce more meaningful.
Median home price hit $417,500, up 1.3% year-over-year. Not collapsing, but not exactly ripping either.
What's interesting: sales are moving again despite rates still being elevated. Maybe we're finally seeing some acceptance of the new normal. Sellers who've been frozen are starting to blink. Buyers who've been waiting are realizing rates aren't going back to 3%.
Housing has been stuck in this weird limbo for two years. This might be the early sign of thaw. Not a boom. Just movement. Which, honestly, might be healthier than another manic run-up.
Median home price hit $417,500, up 1.3% year-over-year. Not collapsing, but not exactly ripping either.
What's interesting: sales are moving again despite rates still being elevated. Maybe we're finally seeing some acceptance of the new normal. Sellers who've been frozen are starting to blink. Buyers who've been waiting are realizing rates aren't going back to 3%.
Housing has been stuck in this weird limbo for two years. This might be the early sign of thaw. Not a boom. Just movement. Which, honestly, might be healthier than another manic run-up.