{"id":23798,"date":"2024-07-08T13:54:59","date_gmt":"2024-07-08T13:54:59","guid":{"rendered":"https:\/\/www.anthonydidonato.net\/wordpress\/?p=23798"},"modified":"2024-07-08T13:55:02","modified_gmt":"2024-07-08T13:55:02","slug":"inventory-woes-arent-slowing-down-home-sales","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/inventory-woes-arent-slowing-down-home-sales\/","title":{"rendered":"Inventory Woes Aren\u2019t Slowing Down Home Sales"},"content":{"rendered":"\n<p>Existing-home sales fared strongly in October even as buyers continued to complain there aren\u2019t enough homes on the market. Existing-home sales, which are completed transactions for single-family homes, townhomes, condos, and co-ops, increased by 0.8% in October compared to September, the National Association of REALTORS\u00ae reported Monday. Compared to a year ago, however, sales are down 5.8%.<\/p>\n\n\n\n<p>Meanwhile, the inventory of unsold homes fell by 12% in October compared to last year. A limited supply of homes for sale remains an ongoing issue for the housing market against continued strong demand among potential home buyers.<\/p>\n\n\n\n<p>\u201cHome sales remain resilient, despite low inventory and increasing affordability challenges,\u201d says Lawrence Yun, NAR\u2019s chief economist. \u201cInflationary pressures, such as fast-rising rents and increasing consumer prices, may have some prospective buyers seeking the protection of a fixed, consistent mortgage payment.\u201d<\/p>\n\n\n\n<p>Mortgage rates remain low, although <a href=\"https:\/\/www.nar.realtor\/magazine\/real-estate-news\/economy\/inflation-drives-mortgage-rates-over-3\" target=\"_blank\" rel=\"noreferrer noopener\">rates are rising<\/a>. The 30-year fixed-rate mortgage averaged 3.07% in October, up from 2.9% in September, according to Freddie Mac.<\/p>\n\n\n\n<p>Here\u2019s a closer look at key housing indicators from NAR\u2019s latest housing report:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Home prices: <\/strong>The median existing-home sales price rose 13.1% year over year to $353,900. Prices climbed in all four major regions of the U.S.<\/li>\n\n\n\n<li><strong>Housing inventories: <\/strong>Total housing inventory at the end of October was 1.25 million units, down 0.8% compared to September. Unsold inventory sits at a 2.4-month supply at the current sales pace.<\/li>\n\n\n\n<li><strong>Days on the market: <\/strong>Eighty-two percent of homes sold in October were on the market for less than a month. Properties typically remained on the market for 18 days in October, down from 21 days a year ago.<\/li>\n\n\n\n<li><strong>First-time buyers:<\/strong> First-time buyers comprised 29% of sales in October, down from 32% a year ago.<\/li>\n\n\n\n<li><strong>Investors and second-home buyers: <\/strong>Individual investors or second-home buyers comprised 17% of sales in October, up from 13% in September and from 14% in October 2020, NAR reports. Investors and second-home buyers tend to make up the biggest bulk of all-cash sales, which accounted for 24% of transactions in October.<\/li>\n\n\n\n<li><strong>Distressed sales: <\/strong>Foreclosures and short sales accounted for less than 1% of sales in October, equal to October 2020.<\/li>\n<\/ul>\n\n\n\n<p><strong>A Regional Look at Home Sales<\/strong><\/p>\n\n\n\n<p>Two of the four major regions of the U.S. posted month-over-month increases in existing-home sales last month. Still, home sales remain strong in most parts of the country even as housing inventories remain low.<\/p>\n\n\n\n<p>\u201cAmong some of the workforce, there is an ongoing trend of flexibility to work anywhere, and this has contributed to an increase in sales in some parts of the country,\u201d Yun says. \u201cRecord-high stock markets and all-time-high home prices have worked to significantly raise total consumer wealth and, when coupled with extended remote work flexibility, elevated housing demand in vacation regions.\u201d<\/p>\n\n\n\n<p>Here\u2019s how existing-home sales fared across the country in October:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Northeast:<\/strong> Sales dropped 2.6% in October, reaching an annual rate of 750,000. That marks a 13.8% decline compared to October 2020. Median price: $379,100, up 6.4% from one year ago.<\/li>\n\n\n\n<li><strong>Midwest: <\/strong>Sales increased 4.2% to an annual rate of 1.5 million in October, a 6.3% decrease compared to a year ago. Median price: $259,800, up 7.8% from October 2020.<\/li>\n\n\n\n<li><strong>South:<\/strong> Sales rose 0.4% in October, posting\u00a0an annual rate of 2.78 million, a 3.5% decrease compared to last year. Median price: $315,500, a 16.1% increase from a year ago.<\/li>\n\n\n\n<li><strong>West: <\/strong>Sales remained stable in October compared to September, staying at\u00a0an annual rate of 1.31 million. That is down 5.1% from one year ago. Median price: $507,200, up 7.7% from October 2020.<\/li>\n<\/ul>\n\n\n\n<p>National Association of REALTORS\u00ae<br \/>Reprinted with permission<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Existing-home sales fared strongly in October even as buyers continued to complain there aren\u2019t enough homes on the market. Existing-home sales, which are completed transactions for single-family homes, townhomes, condos, and co-ops, increased by 0.8% in October compared to September, the National Association of REALTORS\u00ae reported Monday. Compared to a year ago, however, sales are &hellip; <\/p>\n<p><a class=\"more-link btn\" href=\"http:\/\/www.anthonydidonato.net\/wordpress\/inventory-woes-arent-slowing-down-home-sales\/\">Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-23798","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Inventory Woes Aren\u2019t Slowing Down Home Sales - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.anthonydidonato.net\/wordpress\/inventory-woes-arent-slowing-down-home-sales\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/inventory-woes-arent-slowing-down-home-sales\\\/#article\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/inventory-woes-arent-slowing-down-home-sales\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Inventory Woes Aren\u2019t Slowing Down Home Sales\",\"datePublished\":\"2024-07-08T13:54:59+00:00\",\"dateModified\":\"2024-07-08T13:55:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/inventory-woes-arent-slowing-down-home-sales\\\/\"},\"wordCount\":565,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/inventory-woes-arent-slowing-down-home-sales\\\/\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/inventory-woes-arent-slowing-down-home-sales\\\/\",\"name\":\"Inventory Woes Aren\u2019t Slowing Down Home Sales - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#website\"},\"datePublished\":\"2024-07-08T13:54:59+00:00\",\"dateModified\":\"2024-07-08T13:55:02+00:00\",\"breadcrumb\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/inventory-woes-arent-slowing-down-home-sales\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/inventory-woes-arent-slowing-down-home-sales\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/inventory-woes-arent-slowing-down-home-sales\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Inventory Woes Aren\u2019t Slowing Down Home Sales\"}]},{\"@type\":\"WebSite\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#website\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/\",\"name\":\"Real Estate Agent and Sales in PA - 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Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both. Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary. Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that \u201cperfect\u201d property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently. When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting \u2013 or exceeding \u2013 his clients\u2019 expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame. For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania\u2026 call Anthony DiDonato.\",\"sameAs\":[\"http:\\\/\\\/www.anthonydidonato.net\"],\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Inventory Woes Aren\u2019t Slowing Down Home Sales - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"http:\/\/www.anthonydidonato.net\/wordpress\/inventory-woes-arent-slowing-down-home-sales\/","twitter_misc":{"Written by":"admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/inventory-woes-arent-slowing-down-home-sales\/#article","isPartOf":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/inventory-woes-arent-slowing-down-home-sales\/"},"author":{"name":"admin","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908"},"headline":"Inventory Woes Aren\u2019t Slowing Down Home Sales","datePublished":"2024-07-08T13:54:59+00:00","dateModified":"2024-07-08T13:55:02+00:00","mainEntityOfPage":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/inventory-woes-arent-slowing-down-home-sales\/"},"wordCount":565,"publisher":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908"},"keywords":["Anthony DiDonato","News","Real Estate","tips"],"articleSection":["News","Real Estate Tips"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/inventory-woes-arent-slowing-down-home-sales\/","url":"http:\/\/www.anthonydidonato.net\/wordpress\/inventory-woes-arent-slowing-down-home-sales\/","name":"Inventory Woes Aren\u2019t Slowing Down Home Sales - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania","isPartOf":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#website"},"datePublished":"2024-07-08T13:54:59+00:00","dateModified":"2024-07-08T13:55:02+00:00","breadcrumb":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/inventory-woes-arent-slowing-down-home-sales\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["http:\/\/www.anthonydidonato.net\/wordpress\/inventory-woes-arent-slowing-down-home-sales\/"]}]},{"@type":"BreadcrumbList","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/inventory-woes-arent-slowing-down-home-sales\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"http:\/\/www.anthonydidonato.net\/wordpress\/"},{"@type":"ListItem","position":2,"name":"Inventory Woes Aren\u2019t Slowing Down Home Sales"}]},{"@type":"WebSite","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#website","url":"http:\/\/www.anthonydidonato.net\/wordpress\/","name":"Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania","description":"Properties and Real Estate for Sale","publisher":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"http:\/\/www.anthonydidonato.net\/wordpress\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":["Person","Organization"],"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg","url":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg","contentUrl":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg","caption":"admin"},"logo":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg"},"description":"For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both. Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary. Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that \u201cperfect\u201d property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently. When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting \u2013 or exceeding \u2013 his clients\u2019 expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame. For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania\u2026 call Anthony DiDonato.","sameAs":["http:\/\/www.anthonydidonato.net"],"url":"http:\/\/www.anthonydidonato.net\/wordpress\/author\/admin\/"}]}},"_links":{"self":[{"href":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/posts\/23798","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/comments?post=23798"}],"version-history":[{"count":1,"href":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/posts\/23798\/revisions"}],"predecessor-version":[{"id":23799,"href":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/posts\/23798\/revisions\/23799"}],"wp:attachment":[{"href":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/media?parent=23798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/categories?post=23798"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/tags?post=23798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}