Weekly Market Observations — October 24, 2023

Here’s Our Weekly Market Observations :

Existing home sales drop 2% in September from August and 15.4% YOY

Inventory climbed 2.7% in September with supply now at 3.4 months

Median existing home sales price increased 2.8% YOY to $394,300

Mortgage demand falls to 28 year low

Average 30-year fixed mortgage rates up slightly to 7.63%