Sales of previously occupied U.S. homes fell for the fourth month in a row in September, held back by surging mortgage rates and a thin supply of properties on the market
File - A housing development in Middlesex Township, Pa., is shown on Oct 12, 2022. On Thursday, the National Association of Realtors releases data for sales of existing homes last month. .
Sales sank 15.4% compared with the same month last year and are down 21% through the first nine months of the year versus the same period in 2022. “Clearly, the story of limited inventory and rising and rising mortgage rates continues to hinder the home sales market,” said Lawrence Yun, the NAR’s chief economist.
High rates can add hundreds of dollars a month in costs for borrowers, limiting how much they can afford in a market already out of reach for many Americans. They also discourage homeowners who locked in rock-bottom rates two years ago from selling.
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Home sales fell again in September as surging mortgage rates, rising prices discouraged homebuyersSales of previously occupied U.S. homes fell for the fourth month in a row in September, held back by surging mortgage rates and a thin supply of properties on the market. Existing home sales fell 2% last month from August to a seasonally adjusted annual rate of 3.96 million, the National Association of Realtors said Thursday.
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Existing home sales fall in September as high mortgage rates freeze marketZachary Halaschak is an economics reporter at the Washington Examiner. Before moving to Washington, he worked in Alaska, covering politics, government, and crime for the Ketchikan Daily News. While there, Zach won the Alaska Press Club’s second-place award for best reporting on crime or courts for his coverage of a local surgeon’s alleged murder.
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Home sales fell again in September as surging mortgage rates, rising prices discouraged homebuyersSales of previously occupied U.S. homes fell for the fourth month in a row in September, held back by surging mortgage rates and a thin supply of properties on the market.
Read more »
Home sales fell again in September as surging mortgage rates, rising prices discouraged homebuyersSales of previously occupied U.S. homes fell for the fourth month in a row in September, held back by surging mortgage rates and a thin supply of properties on the market.
Read more »
U.S. home sales fell in September to the lowest level since the Great Recession‘The Federal Reserve simply cannot keep raising interest rates,’ says Lawrence Yun, chief economist at the National Association of Realtors
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September home sales drop to the lowest level since the foreclosure crisisThere were 1.13 million homes for sale at the end of September, down more than 8% from a year ago.
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