Home prices dip as buyers and sellers head into the holidays

By Clare Trapasso | realtor.com

It’s not even Black Friday or Cyber Monday yet, but buyers may already be able to score a discount (though just a tiny one) on the homes of their dreams.

Median prices dipped 1.3% in October to hit $232,000 for existing (i.e. previously lived in) homes compared to a month earlier, according to a recent National Association of Realtors® report. However, prices were still 6% higher than October of last year.

Despite the price drop, sales still fell 8.2% to about 446,000 in October from September, according to the report. Sales and prices typically drop along with the temperature once summer ends and the kids go back to school, and then potential buyers and sellers get busy preparing for the holidays.

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