October 2022 marked the third consecutive month of a decline in Median Sales Price, according to the latest RE/MAX National Housing Report. October also saw 30.7% fewer closings and 36.8% more homes for sale compared to the same time last year. And at 35 days on market, the average home took nearly a week longer to sell than it did in October 2021.
These notable metrics are a proof point of the changing housing market landscape since the onset of the COVID-19 pandemic over two years ago.
Although industry reports are revealing a continued decline in home sales,…
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