Existing Home Sales Jump 4.3 Percent

Home sales in The Roanoke Valley surged in 2020, like this one selling for $430,000 in SW Roanoke City.

The National Association of Realtors newsroom reports, in a November 19, 2020 article, that nationally… “Existing-home sales grew for the fifth consecutive month in October to a seasonally-adjusted annual rate of 6.85 million – up 4.3% from the prior month and 26.6% from one year ago.”

And with regard to home prices, the article goes on to say “The median existing-home price was $313,000, almost 16% more than in October 2019. Total housing inventory declined from the prior month and one year ago to 1.42 million, enough to last 2.5 months – a record low – at the current sales pace.”

Take a look at our Roanoke Valley Market Snapshot for Q3 2020 to see the specifics on RECORD sales in our neck of the woods. Also, watch out for our 2020 wrap up in January 2021.

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Thanks for reading our article on Existing Home Sales Jump 4.3 Percent

– Patrick Wilkinson, Living In Roanoke

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