The Number of Home Sale’s Closed in October Down from 2021

It is no surprise that there has been a slow down in home sales recently.  With the rising mortgage rates the last few months, the buying trend has slowed.  According to the Monthly NAR (National Association of Realtors®) Statistical Report, the number of homes that closed in October 2022 were down over 23% from that of a year ago.  In total, 487 sales closed in October 2022 compared to 639 in October 2021.  As has been the trend, the median home price was higher in the tenth month of 2022 as compared to October 2021.  In 2022, October’s average sold price was $239,483, while the average sale price was $226,679 during the same period in 2021.