Home sales jumped in October, and housing demand is set to pick up from here, NAR says [Business Insider]
Federal Home Loan Mortgage Corporation (FMCC)
NASDAQ:AMEX Investor Relations:
freddiemac.com/investors
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Source: Business Insider
That's partly due to higher inventory levels, which rose 19% in October compared to last year. Homebuying activity is likely to rise from here after a prolonged slump, the group said. The National Association of Realtors said home sales jumped last month, and buying activity is likely to rise as the market climbs out of a prolonged slump. Existing home sales rose 3.4% in October, the group said. Sales rose 2.9% year-over-year for the first annual rise since July 2021 when Americans were still in the midst of a pandemic homebuying boom The increase in October was largely fueled by more inventory of existing homes coming to market, giving prospective buyers more opportunities to jump off the sidelines, the group said. Unsold existing home inventory edged up to 1.37 million at the end of October, or about four months of unsold inventory. That's a 0.7% increase from the prior month, and a 19% surge from levels recorded last year, per the report. "The worst of the downturn in
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FMCC
News
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- Average rate on a 30-year mortgage in the US rises to highest level since July [Yahoo! Finance Canada]Yahoo! Finance Canada
- Mortgage rates rise after home sales jump in October [Yahoo! Finance]Yahoo! Finance
- Existing homes sales jump 3.4% in October, first increase in 3 years [Yahoo! Finance]Yahoo! Finance
- Miami-Dade $1M & Up Existing Condo Sales Continue to Climb; Single-Family Home Sales on Target to Top Last Year's Total [Yahoo! Finance]Yahoo! Finance
FMCC
Analyst Actions
- 11/20/24 - Keefe, Bruyette & Woods
FMCC
Sec Filings
- 11/21/24 - Form ABS-15G
- 11/6/24 - Form ABS-15G/A
- 11/6/24 - Form ABS-15G/A
- FMCC's page on the SEC website