Braking Down The Noise

U.S. Home Sales Drop for Eighth Straight Month in September

Slowdown in the market is expected to continue as mortgage rates approach 7%, up from about 3% a year earlier

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U.S. existing home sales fell for an eighth straight month in September, the longest streak of declines in 15 years, as the once-booming housing market becomes a bigger drag on the U.S. economy.

Sales of previously owned homes declined 1.5% in September from the prior month to a seasonally adjusted annual rate of 4.71 million, the weakest rate since May 2020, the National Association of Realtors said Thursday.

 

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