Homes Sales In USA: The report from the National Association of Realtors on Tuesday also showed that the median house price last month was the highest for any October.
U.S. existing home sales dropped to the lowest level in more than 13 years in October as the highest mortgage rates in two decades and a dearth of houses drove buyers from the market. The report from the National Association of Realtors on Tuesday also showed that the median house price last month was the highest for any October. "The combination of high prices, high mortgage rates, and millions of homeowners unwilling to move, given they've locked in low rates, has frozen the market," said Robert Frick, corporate economist at Navy Federal Credit Union in Vienna, Virginia.
The sale of previously owned homes fell again in October as high mortgage rates and a worsening supply shortage left would-be buyers with limited options.
Home sales fall to 13-year low in October yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
U.S. dollar stays nearly flat ahead of Fed rates decision europesun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from europesun.com Daily Mail and Mail on Sunday newspapers.