Real Estate

Existing home sales fall to a 10-year low in September


Real estate broker Rebecca Van Camp places a “Sold” placard on her sign in front of a home in Meridian, Idaho, on Wednesday, Oct. 21, 2020.

Darin Oswald | Tribune News Service | Getty Images

Existing homes are selling at the slowest pace since September 2012, with the exception of a brief drop at the start of the Covid 19 pandemic.

Sales of previously owned homes fell 1.5% in September from August to a seasonally adjusted annual rate of 4.71 million units, according to a monthly survey from the National Association of Realtors.

That marked the eighth straight month of sales declines. Sales were lower by 23.8% year over year.

Sharply higher mortgage rates are causing an abrupt slowdown in the…


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