Low supply, high prices still keeping a lid on sales of existing U.S. homes

The numbers: Sales of existing or previously owned homes rose 0.7% in September to an annual rate of 5.39 million, breaking a three-month losing streak. That exceeded the MarketWatch forecast of 5.3 million. The number of homes available for sale climbed 1.9% in September, but total housing inventory was still down 6.4% compared to a year ago at 1.9 million. The median price of an existing home increased 4.2% to $245,100.

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Source: MarketWatch

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