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For Sale real estate sign for Redfin in front of a townhome, Walnut Creek, California, Oct. 29, 2025. Smith Collection | Gado | Archive Photos | Getty Images Improvement in mortgage rates at the end of the summer boosted home sales, but that gain may be short-lived. Sales of previously owned homes in October rose 1.2% from September to 4.1 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors. Sales were up 1.7% year over year. This count is based on home closings, so contracts likely signed in August and September. While contract signings would not be impacted by the government shutdown that started in October, closings, especially those requiring flood insurance or government-backed rural home loans, could be. During that contract-signing period, the average rate on the 30-year fixed mortgage came down for a bit but then moved up again. The popular 30-year rate started August at 6.63%, fell steadily to 6.13% by mid-September, and then came back up to 6.37% by the end of the month, according to Mortgage News Daily. It now stands at 6.36%. The inventory of homes for sale has also come down. After gaining for much of this year, supply fell to 1.52 million units, down 0.7% from September, although still nearly 11% higher than a year earlier. At the current sales pace, there is a 4.4-month supply, still considered lean. Get Property Play directly to your inbox CNBC’s Property Play with Diana Olick covers new and evolving opportunities for the real estate investor, delivered weekly to your inbox. Subscribe here to get access today. And that’s why prices are still gaining. The median price of a home sold in October was $415,200, an increase of 2.1% from October 2024 and the 28th consecutive month of annual gains.…

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Filed under: News - @ November 20, 2025 3:30 pm