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Home sales hit 16-year low in October amid record-high mortgage rates
Guardian ·
Sales of built units fell to 3.75m in October, down by 8.8% from last year, with mortgage rates at nearly three-year highUS existing home sales hit a 16-year low in October as buyers were driven away by record-high mortgage rates and rising inflation, according to new data released on Wednesday.Sales of already built units dropped to 3.75m in October, down by 8.8% from last year, the National Association of Realtors (NAR) reported. The median existing-home sales price increased slightly to $416,700. Declines in sales were seen in the midwest, south and west, though sales in the north-east…
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First reported by Yahoo Finance at · 4 outlets in all
- GuardianHome sales hit 16-year low in October amid record-high mortgage ratesSales of built units fell to 3.75m in October, down by 8.8% from last year, with mortgage rates at nearly three-year highUS existing home sales hit a 16-year low in October as buyers were driven away by record-high mortgage rates and rising inflation, according to new data released on Wednesday.Sales of already built units dropped to 3.75m in October, down by 8.8% from last year, the National Association of Realtors (NAR) reported. The median existing-home sales price increased slightly to $416,700. Declines in sales were seen in the midwest, south and west, though sales in the north-east…
- NY PostHome sales plunge to 16-year low as mortgage rates stay high: ‘Just a tough market’Sales are at their lowest since the late-2000s housing crash.
- APUS home sales slumped in October to slowest pace in more than 16 years as mortgage rates surged
- Yahoo FinanceUS labor market resilient; existing home sales hit more than 16-year low in October