The National Association of Realtors® is reporting that October sales of existing homes rose a meager .5% as the median selling price of an existing home fell by a stunning 3.5%.
The median selling price of an existing home in the U.S. is now $221,000.
The year-over-year price decline is the largest ever recorded and is the 3rd consecutive monthly decline, resulting in the longest series of price declines on record.