The median price of an existing home sold in October has increased 3.4% from October 2022.

The national median price of an existing home sold in October was $391,800, an increase of 3.4% from a year ago ($378,800). Prices rose in all regions of the country.

These annual price increases have been getting larger for four straight months.

Roughly 28% of homes sold above list price.

Source: CNBC

Manny Pacquiao's real estate shake-up: Watch the video!

Manny Pacquiao... what happened here?

This Mediterranean-style home has 5 bed/5.5 bath and 4,273 sq. ft. of living space.

The 2-story home features an open layout, high ceilings, a gourmet kitchen, a pool, and a spa.

Asking price: $4,500,000

Selling price: $2,000,000

Cooler monthly inflation report pushes mortgage rates even lower

Mortgage rates fell again today, 11/14/23. The average rate on the 30-year mortgage fell 18 basis points to 7.40%.

The bond market rallied after government data showed inflation was lower than expected.

Wall Street has started to lower its expectations for more Federal Reserve rate hikes ahead.

Source: Diana Olick from CNBC