The economy is improving, unemployment is falling, and the U.S. real estate market remains strong during a period when activity typically slows as people take time to travel, celebrate, and spend time with loved ones. Although the market is not as frenetic as was seen earlier this year, buyer demand is high, bolstered by attractive mortgage rates and a low supply of inventory.
New listings increased 1.1 percent for residential homes but decreased 5.1 percent for townhouse/condo homes. Pending sales increased 3.1 percent for residential homes and 11.0 percent for townhouse/condo homes. Inventory decreased 25.8 percent for residential homes and 33.1 percent for townhouse/condo homes.
October 2021 Housing Report
