Home Sales

This is a home in Mount Lebanon, Pa., under contract, Oct. 17, 2022. Sales of previously occupied U.S. homes fell in September for the eighth month in a row, though the decline was the most modest yet since the housing market began to cool amid sharply higher mortgage rates. The National Association of Realtors said Thursday, Oct. 20, 2022 that existing home sales fell 1.5% last month from August to a seasonally adjusted annual rate of 4.71 million.

Sales of previously occupied U.S. homes fell in October for the ninth consecutive month to the slowest pre-pandemic sales pace in more than 10 years as homebuyers grappled with sharply higher mortgage rates, rising home prices and fewer properties on the market.

Existing home sales fell 5.9% last month from September to a seasonally adjusted annual rate of 4.43 million, the National Association of Realtors said Friday. The string of monthly sales declines this year is the longest on record going back to 1999, the NAR said.


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