Existing home sales rose 2.0 percent in October from one month prior while new home sales increased 6.2 percent.
Respondents from Florida, which was battered by hurricane Irma, generally reported “strong” buying activity compared to one year ago.
The National Flood Insurance Program (NFIP) must be periodically reauthorized by Congress in order to continue issuing or renewing flood insurance policies.
Black and African American NAR members made up the third largest group at 7% of REALTOR® survey respondents.
While the House and the Senate have passed their tax reform bills, they now have to figure out how to reconcile their differences.
REALTOR® respondents from Washington and Nevada expected the highest price growth, with the median expected price growth at more than five to six more percent.
Asian and Pacific Islander members comprise a small share of NAR members responding to the survey, at just 6%.
Sales of distressed properties accounted for four percent of sales in October 2017, a decline from a peak of about 50% in 2009.
The highest share of homes are sold between the $200,000 to $299,999 price range, and start to taper off as the price of homes increases.
Amid strong demand and tight supply, REALTORS® reported that properties that sold in October 2017 were typically on the market for 34 days, down from 41 days in October 2016.
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