Real Estate News 10/25/2023

Today’s News Synopsis:

New listings climbed 1.4% month over month in September, the largest increase since February 2022 on a seasonally adjusted basis. That’s a glimmer of relief for homebuyers, who for months have been waiting for more homes to hit the market.

In The News:

Redfin – “Housing market tracker: September 2023” (10-23-2023)

“New listings inched up as some homeowners opted to cash out, fearing that elevated mortgage rates could drive a drop in home prices.”

CBS News –  “24 Metro areas where tenants are paying less this year” (10-24-2023)

“Renters looking for new digs may be in luck. Rents have fallen for the fifth month in a row thanks to an uptick in home and mortgage prices which continue to bend the housing market in favor of tenants.”

NAR-  “September 2023 Existing home sales fall to lowest level since October 2010” (10-24-2023)

“September’s existing-home sales reached a 3.96 million seasonally adjusted annual rate. September’s sales of existing homes weakened 15.4% from September 2022.”

NAHB-  “Banking agencies approve changes to the Community Reinvestment Act” (10-24-2023)

“The CRA encourages federally insured banks to help meet the credit needs of the communities in which they do business, especially low- and moderate-income communities.”