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Existing home sales jump 4.3% to 6.85 million

Christian Fernsby ▼ | November 20, 2020
Existing home sales continued to trend upward in October, marking five consecutive months of month over month gains, according to the National Association of Realtors.
U.S. home
Gains   U.S. home
Total existing home sales home sales, completed transactions that include single family homes, townhomes, condominiums and co ops, increased 4.3% from September to a seasonally adjusted annual rate of 6.85 million in October.

Total housing inventory3 at the end of October totaled 1.42 million units, down 2.7% from September and down 19.8% from one year ago (1.77 million).

Unsold inventory sits at an all time low 2.5 month supply at the current sales pace, down from 2.7 months in September and down from the 3.9 month figure recorded in October 2019.