Existing Home Sales Jump 2.4% to One-Year High in Sept.

The video discusses a positive report on existing home sales, which exceeded forecasts with a 2.4% gain, reaching a rate of 5,170,000. This is close to the historical average of 5,280,000 over the past 30-40 years. There is also a notable rise in single-family home sales by 2% and a 5% increase in apartment construction. However, the inventory of homes for sale has dropped to 5.3 months, below the normal market level of 6.8 months, indicating potential price increases due to limited supply.

What was the unexpected gain in existing home sales reported?

• 1%

• 2.4%

• 4%

• 3.5%

How does the current rate of existing home sales compare to the historical average?

• Close to the average

• Slightly above

• Significantly below

• Far above

What was the percentage increase in single-family home sales?

• 3%

• 2%

• 1%

• 4%

What trend is highlighted by the 5% gain in apartment construction?

• Decline in apartment living

• Decrease in single-family homes

• Increase in apartment living

• Stability in apartment sales

What does the drop in home inventory to 5.3 months suggest about future prices?

• Prices will decrease

• Prices will remain stable

• Prices will fluctuate unpredictably

• Prices are likely to increase