Existing-Home Sales Fall
Down 1.9 percent for September
Sales of previously owned homes eased in September, the latest indication that rising mortgage rates are causing the housing market to cool after hitting four-year highs this summer.
Existing-home sales in September slipped to a seasonally adjusted annual rate of 5.29 million, the National Association of Realtors said Monday. The 1.9% decline appears modest, but the prior month's pace was revised down sharply to 5.39 million from the previously estimated 5.48 million. Sales now held flat in August after reaching the highest level since late 2009 in July.
Hide Comments (0)
Editor's Note: As of February 29, 2024, commenting privileges on reason.com posts are limited to Reason Plus subscribers. Past commenters are grandfathered in for a temporary period. Subscribe here to preserve your ability to comment. Your Reason Plus subscription also gives you an ad-free version of reason.com, along with full access to the digital edition and archives of Reason magazine. We request that comments be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of reason.com or Reason Foundation. We reserve the right to delete any comment and ban commenters for any reason at any time. Comments may only be edited within 5 minutes of posting. Report abuses.
Please
to post commentsMute this user?
Ban this user?
Un-ban this user?
Nuke this user?
Un-nuke this user?
Flag this comment?
Un-flag this comment?