Boston and Raleigh had the highest bidding-war rates, as the rate fell to a 2021 low.

“Contract transactions slowed a bit in September and are showing signs of a calmer home price trend, as the market is running comfortably ahead of pre-pandemic activity.” — NAR chief economist Lawrence Yun

Home-price gains were once again broadly distributed, as all 20 cities in the S&P CoreLogic Case-Shiller Home Price Index rose, although in most cases at a slower rate than a month ago.

At the same time, the increase in interest rates drove fewer borrowers to refinance their loans, according to the Mortgage Bankers Association.

The month also saw a slight shift in inventory, even though shortages continued.

“There simply aren’t enough homes for sale relative to the demand fueled by millennials armed with low mortgage rate-driven house-buying power.” — First American Deputy Chief Economist Odeta Kushi

Year over year, sales were down 10.1%, while the median sales price was up 15.8%, Atlanta REALTORS Association reported.

The median existing-home price for all housing types in September was $352,800, up 13.3% on an annual basis, as every region in the country registered price increases.

The decrease was driven by a 5.1% month-over-month slide in the rate of multifamily starts, while single-family construction was flat.

Lack of inventory continues to restrict home sales as fewer homes sold in September, and closed home sales dropped.

Climate change will negatively impact the already-stunted housing inventory in the U.S., according to a recent Redfin report.

Days on market rose 10% from August, and months supply of inventory jumped 16.7%, according to RE/MAX’s National Housing Report for September. 

While the past year has been unprecedented in terms of economic change and a global pandemic, most U.S. home sellers’ experiences were similar to past years, according to Zillow’s latest consumer housing trends report.  Consistent with the past three

It’s been barely three months since the federal moratorium on foreclosures expired, but it’s starting to prove costly, as nationally, foreclosures are on the rise, having increased 67% from last year.

Days on market in the city, meanwhile, dropped to 48 days from 60 days.

Asking prices for homes reached an all-time high in September, despite pending sales and new listings cooling.