NAR reported a 2.2 percent decline in its existing-home sales estimate for 2010 to 4.43 million, down from 4.53 million in September. This represents a 26 percent decrease from 2009, which was one of the worst years in U.S. real estate history. However, total housing inventory at the end of October fell slightly to 3.86 million existing homes, or a 10.5-month supply.
Another interesting point from this report was that investors made up 19 percent of October transactions, which is up 36 percent over 2009. In addition, all-cash buyers were 29 percent of the market, up 20 percent from 2009.
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