Meanwhile, an increase in inventory brought some softening to median selling prices last month.

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

New listings for single-family homes and condominiums increased for the first time in three months in September.

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

October’s increase comes as inflation slows and mortgage rates decline. 

Meanwhile, single-family home and condo sales were down from last year. 

At the same time, the median-sales price declined from August, according to the RE/MAX National Housing Report. 

Nationally, the housing market has dipped into neutral territory for the last three months.

The amount a homebuyer needs to earn to afford a median priced starter home is down 0.4% from last year, marking the first annual decline since August 2020.

Realtor was the most desirable job in 49 of the 50 states, the study found.

The latest reading of the National Association of REALTORS® Pending Home Sales Index shows a return to month-over-month growth after a decline in July.    

Homebuying has just become more affordable for the first time since 2020, according to a new Redfin report.

The 716,000 per-year rate of new-home sales topped the consensus estimate of 700,000. 

Despite a summer marked by falling mortgage rates and increased inventory, homebuying activity in Greater Boston has cooled since late spring.

The 2.5% decline followed a 1.3% increase in July, according to the National Association of REALTORS®. 

For the second month in a row, housing affordability in the Bay State rose in August, a positive sign for homebuyers.