Home sales in the 52 largest U.S. markets fell 13.3% between August and September in keeping with historical trends, RE/MAX said in its monthly National Housing Report. Year over year, closed transactions were down 3.1%. 

Tampa, Florida; Omaha; and Miami had the three greatest year-over-year declines in the pace of sales, respectively. 

Meanwhile, the median sales price for all metros was $429,000, down 1.4% from August but up 4.6% from September 2023. Hartford, Connecticut; Cleveland; and Providence, R.I., had the three greatest annual increases. 

The national close-to-list-price ratio was 99%, the same as it was in August and in September 2023. Miami; Bozeman, Montana; and Couer d’Alene, Idaho, had the lowest close-to-list-price ratios of the 52 markets surveyed. 

New listings were down 0.3% month over month but up 9.7% year over year. Bozeman, Phoenix and Las Vegas had the largest increases in new listings. 

The number of homes for sale nationally was up 6.4% month over month and 33.6% year over year. Manchester, N.H; Seattle; and Trenton, N.J., had the lowest inventory on a months’ supply basis. 

“While we’re seeing a slight cooling in sales, it’s encouraging to note that home inventory has been steadily increasing, giving buyers more options in the market,” RE/MAX President Amy Lessinger said in the report. “The consistency in sales prices and the fact that buyers are still paying 99% of asking price demonstrates the resiliency in today’s housing market. Lower rates could generate some increased activity as we end 2024 and start 2025.”