U.S. existing-home sales declined for the third consecutive month, as higher mortgage rates and rising sales prices hindered market activity during what has traditionally been one of the busiest months of the year. According to the National Association of REALTORS® (NAR), sales of previously owned homes dipped 0.7%
month-over-month and 2.8% year-over-year, to a seasonally adjusted annual rate of 4.11 million units.

• New Listings were up 9.0 percent to 365.
• Pending Sales increased 11.0 percent to 283.
• Inventory grew 30.6 percent to 985 units.
• Prices moved higher as Median Sales Price was up 6.7 percent to $299,900.
• Days on Market increased 6.5 percent to 66 days.
• Months Supply of Inventory was up 23.3 percent to 3.7 months, indicating that supply increased relative to demand.