In August 2023, pending home sales fell 7.1% month-over-month.
August 2023 brought 4.04 million in sales, a median sales price of $407,100, and 3.3 months of inventory. The median sales price is up 3.9% year-over-year, and inventory was up 0.1 months from August 2022.
The top 10 metro areas with the largest year-over-year price increases all recorded gains of at least 10.4%, with six of those markets in the Midwest.
Three of the 10 metro areas with the largest percent gains in existing single-family home price in 2023 Q1 were in Wisconsin and North Carolina.