Real Estate

Home sales fell for ninth straight month in October

0


A “For Sale” sign outside a house in Albany, California, on Tuesday, May 31, 2022.

David Paul Morris | Bloomberg | Getty Images

Home sales declined for the ninth straight month in October, as higher interest rates and surging inflation kept buyers on the sidelines.

Sales of previously owned homes dropped 5.9% from September to October, according to the National Association of Realtors. That is the slowest pace since December 2011, with the exception of a very brief drop at the beginning of the Covid-19 pandemic.

The October reading put sales at a seasonally adjusted, annualized pace of 4.43 million units. Sales were 28.4% lower year-over-year.

Even as sales slow, supply is still stubbornly…



Source cnbc.com

0 0 votes
Article Rating

Cisco (CSCO) earnings Q1 2023

Previous article

How to afford a mortgage as interest rates and home prices rise

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Real Estate