Builder confidence in the market for newly built single-family homes increases again.

The new findings come from real estate tech strategist Mike DelPrete.

Multifamily construction, meanwhile, rose on a monthly basis. 

NAR’s 2024 Profile of Home Buyers and Sellers included several record-setting stats about homesellers and FSBOs.

Buyers had been sitting on the sidelines awaiting the election’s outcome, as well as drops in mortgage rates, but they are back and looking to buy.

The market share of first-time homebuyers has dropped to 24%: a historic low, according to NAR. The median homebuyer age also hit a record-high of 56.

“Maybe the worst is coming to an end,” Yun said.

Looking ahead, the CoreLogic Home Price Insights report predicts home prices will dip by 0.1% in October on a month-over-month basis.      

At the same time, existing-home sales declined, and days on market rose.

More than 10,000 Realtors are expected to attend the NAR NXT, The REALTOR® Experience event being held Nov. 8-10

Four bedrooms, 2.5 bathrooms, original wood flooring … and a pattern of paranormal activity. These are the features agent Heather Bland had to manage when overseeing the sale of Whispers Estate — one of the Midwest’s most haunted homes.

The S&P CoreLogic Case-Shiller U.S. National Home Price Index hit a new record in August, marking the 15th month in a row of new highs. 

The median price of a new home sold during the month was also up, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

Sales slid 1% compared to August, the National Association of REALTORS® said. 

The average 30-year fixed mortgage rate climbed to 6.44%. 

Multifamily starts, meanwhile, declined, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development said.