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Home Sales Fell In September As Fewer Listings Hit The Market

The severe lack of inventory is restricting home sales, according to Redfin Chief Economist Daryl Fairweather.

By Lynn Pollack | October 18, 2021 at 06:40 AM

Fewer homes hit the market in September, constraining the red-hot housing market amidst the fourteenth straight month of double-digit price gains.

A new report from Redfin shows that while median home sale prices increased 14% year-over-year to $376,800 in September, closed home sales and new listings both fell from a year earlier, by 5% and 9% respectively. And that translates into sour grapes for would-be buyers in virtually all of the markets Redfin tracks.

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