U.S. first reported 3h ago by The Guardian World · updated 2h ago

Home sales hit 16-year low in October amid record-high mortgage rates

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Coverage 2 sources · 1 independent (wire copy collapsed) · 1 report · 2L

Chronological.

The Guardian World FIRST 3h ago Home sales hit 16-year low in October amid record-high mortgage rates
Sales of built units fell to 3.75m in October, down by 8.8% from last year, with mortgage rates at nearly three-year high US 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 $41

1 syndicated copy — also ran in The Guardian US