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US Existing Home Sales Drop to 16-Year Low in October

  • Sales of existing homes in the US dropped to 3.75 million in October, an 8.8% decrease from the previous year.
  • This marks the lowest level of home sales since August 2010.
  • Mortgage rates have reached nearly three-year highs, contributing to the decline in home sales.
  • The National Association of Realtors reported the drop in sales, noting that high borrowing costs have deepened the housing market slump.
  • The decline in home sales is the worst slump since the aftermath of the Great Recession.

Timeline

  1. US existing home sales slump to 16-year low in October

    Existing home sales in the US fell to a 16-year low in October due to high mortgage rates.

  2. Home sales hit 16-year low in October

    Home sales in the US hit a 16-year low in October, with sales falling to 3.75 million units.

  3. US home sales fall to lowest level since 2010

    US home sales fell to their lowest level since 2010 in October, with mortgage rates at a three-year high.

  4. October existing-home sales fall to 16-year low

    Existing-home sales in the US fell to a 16-year low in October due to high mortgage interest rates.

  5. Home sales in worst slump since Great Recession

    Home sales in the US fell to their lowest level since the aftermath of the Great Recession in October.

  6. Latest

    Home sales hit 16-year low in October

    Sales of existing homes in the US fell in October to a 16-year low as buyers were driven away by high mortgage rates.

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US Existing Home Sales Drop to 16-Year Low in October | Split Angle