---
title: The Most Important Thing Today (10/25/23)
description: Proactive communication about what’s going on in the market and the economy is key to building stronger client relationships. Each week, the Helios team breaks down the most important information your
---

[Helios Insights ](https://heliosdriven.com/helios-insights)

# [The Most Important Thing Today (10/25/23)](https://heliosdriven.com/helios-insights/the-most-important-thing-today-10-25-23)

 Written by [Team Helios](https://heliosdriven.com/helios-insights/author/teamhelios) | Oct 25, 2023 6:46:01 PM

| Let's talk about homes! |
| --- |

| ## U.S. Home Sales Hit Lowest Since 2010 Amid Affordability Crisis |
| --- |

 

- U.S. existing home sales fell to the lowest level since 2010 last month, marking a nearly 19% decline year-over-year.
- Record-high mortgage rates, the highest in decades, have discouraged prospective buyers. Homeowners with lower rates are staying put, constricting inventory and putting upward pressure on prices.
- Housing affordability, as measured by the National Association of Realtors, fell to its lowest since records began in 1989.
- Approximately 25% of homes sold in September were priced above the list price, and some buyers, eager to secure homes, are forgoing typical contingencies, including inspections and appraisals.
- While inventory rose slightly to 1.13 million homes, it remains the lowest for September since 1999. Given the current sales rate, the existing inventory would last 3.4 months. Notably, 69% of the homes sold in September were on the market for less than a month.

***Source: Helios Quantitative Research, Bloomberg, National Association of Realtors, Freddie Mac***

[View full post](https://heliosdriven.com/helios-insights/the-most-important-thing-today-10-25-23)

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