Reported about 1 month ago
Recent data reveals that existing home sales have fallen to 3.84 million units in September, marking a 14-year low and falling short of projections. Economists emphasize that high interest rates are exerting downward pressure on the housing market, which remains 'frozen' and marked by low affordability. However, there is cautious optimism for a recovery in 2025 as pressures on the housing market may begin to ease, despite concerns regarding elevated market valuations and slowing economic growth.
Source: YAHOO