The market share of first-time homebuyers has dropped to 24%: a historic low, according to NAR. The median homebuyer age also hit a record-high of 56.

“Maybe the worst is coming to an end,” Yun said.

Looking ahead, the CoreLogic Home Price Insights report predicts home prices will dip by 0.1% in October on a month-over-month basis.      

At the same time, days on market increased, and housing starts declined.

More than 10,000 Realtors are expected to attend the NAR NXT, The REALTOR® Experience event being held Nov. 8-10

Four bedrooms, 2.5 bathrooms, original wood flooring … and a pattern of paranormal activity. These are the features agent Heather Bland had to manage when overseeing the sale of Whispers Estate — one of the Midwest’s most haunted homes.

The S&P CoreLogic Case-Shiller U.S. National Home Price Index hit a new record in August, marking the 15th month in a row of new highs. 

The median price of a new home sold during the month was also up, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

Sales slid 1% compared to August, the National Association of REALTORS® said. 

The average 30-year fixed mortgage rate climbed to 6.44%. 

Multifamily starts, meanwhile, declined, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development said.    

At the same time, the median-sales price declined from August, according to the RE/MAX National Housing Report. 

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At the same time, housing started declined, while days on market increased.

The amount a homebuyer needs to earn to afford a median priced starter home is down 0.4% from last year, marking the first annual decline since August 2020.

The latest reading of the National Association of REALTORS® Pending Home Sales Index shows a return to month-over-month growth after a decline in July.