In a surprising uptick, existing home sales in the United States rose to 3.96 million in October 2024, marking a significant recovery from the preceding month's figures. The latest data was updated on November 21, 2024, highlighting an improved resilience within the real estate market amid economic uncertainties.
September 2024 saw existing home sales plateau at 3.83 million, a figure that experts noted as a stagnation amid fluctuating market conditions. However, the current indicator reveals a considerable gain, with October showing an increase of 130,000, reaching 3.96 million. This rebound suggests a renewed interest in property purchases, possibly driven by factors such as stabilized interest rates or consumer confidence in a strong housing market.
Economists speculate that favorable lending conditions and a robust labor market could have contributed to this rise. As the year draws to a close, market analysts and potential homeowners alike will be watching closely to see if this positive momentum extends into the holiday season and beyond.