Trends
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The median price of a new home sold during the month fell to $418,800 from $433,100 in August, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.
At the same time, home sales dropped 20.3% to 4,371 transactions.
The median existing-home price for all housing types in September was $394,300, up 2.8% from $383,500 in September 2022.
Specifically, single-family homes were built at a seasonally adjusted annual rate of 963,000, up 3.2% from 933,000 in August and up 8.6% from 887,000 a year earlier, according to government figures.
Brutalist style and sensory gardens may seem at odds — but they are both hot home design trends that will rule 2024. At least, according to new predictions from Zillow.
A 15% rise in applications for adjustable-rate mortgages drove overall mortgage applications higher in the most recent weekly survey.
The median sale price also declined, but new listings rose.
Located at 4665 Riverview Road in Sandy Springs, the 17,776-square-foot Chestnut Hall is the most-expensive home for sale in Georgia.
Regionally, pending sales were down across the board on both a monthly and an annual basis, the National Association of REALTORS® said.
Among the top upgrades: large showers.
At the same time, home sales slid 15% year over year to 5,088 transactions, the smallest annual decline of 2023.
Total housing inventory at the end of August was 1.11 million units, up 3.7% from July but down 14.6% on a year-over-year basis, the National Association of REALTORS® said.
Sidelined homebuyers can breathe a sigh of relief. According to Realtor.com, the best week of the year to buy a home is still ahead of us.
The median area for a new single-family home fell to 2,191 square feet in the second quarter — the lowest recorded size since 2010.
CoreLogic expects prices to continue to grow through next year, albeit at a more traditional pace than in the height of the pandemic.
Those looking to buy a house will be paying a premium as inventory continues to be an issue.