Reported about 1 month ago
Existing home sales in September dropped to their lowest level since 2010, with a decline of 1% from August, totaling a seasonally adjusted annual rate of 3.84 million. Despite lower mortgage rates, potential buyers are hesitant to enter the market due to high home prices and uncertainty surrounding the upcoming elections. With a 3.5% decrease in year-over-year sales and first-time buyers making up only 26% of transactions, experts predict that sales for the year may remain below last year's figures.
Source: YAHOO