U.S. existing-home sales recently fell from a one-year high, dropping 4.3% monthover-month to a seasonally adjusted annual rate of 4.19 million, according to the National Association of REALTORS® (NAR), as higher interest rates and rising sales
prices continue to keep some prospective buyers on the sidelines. Average 30-year mortgage rates have topped 7% in recent weeks, while the median existing-home sales price hit $393,500 as of last measure, a 4.8% increase from the previous
month, according to NAR.

• New Listings were up 17.4 percent to 364.
• Pending Sales increased 6.4 percent to 301.
• Inventory grew 30.0 percent to 958 units.
• Prices increased as Median Sales Price was up 6.9 percent to $294,000.
• Days on Market increased 20.6 percent to 82 days.
• Months Supply of Inventory was up
  27.6 percent to 3.7 months, indicating that supply increased relative to demand.