Multifamily starts, meanwhile, declined, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development said.    

October’s increase comes as inflation slows and mortgage rates decline. 

Home sales were down an average of 13.3% in the 52 largest U.S. metros, according to the RE/MAX National Housing Report. 

The amount a homebuyer needs to earn to afford a median priced starter home is down 0.4% from last year, marking the first annual decline since August 2020.

Realtor was the most desirable job in 49 of the 50 states, the study found.

The latest reading of the National Association of REALTORS® Pending Home Sales Index shows a return to month-over-month growth after a decline in July.    

Homebuying has just become more affordable for the first time since 2020, according to a new Redfin report.

The 716,000 per-year rate of new-home sales topped the consensus estimate of 700,000. 

The 2.5% decline followed a 1.3% increase in July, according to the National Association of REALTORS®. 

The city experienced a 70.1% yearly increase in active inventory, according to the latest RE/MAX National Housing Report.    

At a time of year when the real estate market typically experiences seasonal declines, this fall is bringing just the opposite.

While the average monthly housing payment in the U.S. fell to its lowest level since the start of the year, it isn’t improving sales, as potential buyers are holding out for lower mortgage rates.

Price growth on the national level continued to decelerate on a year-over-year basis.

July’s seasonally adjusted annual rate of 739,000 represented a 10.6% jump from June’s upwardly revised rate of 668,000. 

The pace of home sales increased 1.3% from June after months of decreases, the National Association of REALTORS® said.      

The city also took the top spot among the cities with the lowest average close-to-list-price ratios, according to the most recent RE/MAX National Housing Report.