Nationwide, rent was up by 9% in September compared to the previous year. That’s the first time in 2022 that rent increases were in the single digits, down from an 18% increase in March, according to an analysis by the real estate company Redfin.

The National Association of Realtors is reporting that existing home sales were down 1.5% in September to a seasonally-adjusted annual rate of 4.71 million (down 23.8% year over year).  Total housing inventory at the end of September was 1,250,000 units, down 2.3% from August and down 0.8% from one year ago.  Unsold inventory sits at a 3.2-month supply at the current sales rate with properties remaining on the market for around 19 days.  The median existing-home price for all housing types in July was $384,800, up 8.4