Existing home sales hit 14-year low; prices remain elevated

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Existing home sales hit 14-year low; prices remain elevated
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Existing home sales dropped to a 14-year low in September, weighed down by higher mortgage rates and house prices.

<p>WASHINGTON  — U.S. existing home sales dropped to a 14-year low in September, weighed down by higher mortgage rates and house prices.

</p><p>Though supply has improved, entry-level homes remain scarce in most regions of the country, keeping home prices at levels that are unaffordable for most first-time buyers.

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