Existing home sales in the United States decreased by 5.5% in October on a monthly basis to reach a seasonally adjusted annual rate of 3.75 million, the National Association of Realtors (NAR) announced in a report on Thursday. Viewed annually, the sales were 8.8% lower.
The median existing-home sales price for all housing types in the reported month climbed 0.4% from last year to $416,700. The total housing inventory stood at 1.59 million units, up 1.3% from September and 4.6% from October last year.
"Home buying is difficult when mortgage rates have climbed to their highest levels since 2000, aside from a single month in 2023. As a result, home sales fell to their lowest level since August 2010," NAR Chief Economist Lawrence Yun said.
https://breakingthenews.net/Article/US-existing-home-sales-down-5.5-in-October/67551934
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