Existing home sales in September fall to lowest level since 2010
Sales of existing homes fell in September as house hunters remained on the sidelines despite mortgage rates easing during the month.
Existing home sales slipped 1% from August to a seasonally adjusted annual rate of 3.84 million, the National Association of Realtors said Wednesday, marking the lowest monthly rate since October 2010. Economists polled by Bloomberg expected existing home sales to hit a pace of 3.88 million in September.
On a year-over-year basis, sales of previously owned homes were 3.5% lower in September.
Meanwhile, the median home price rose 3% from last September to $404,500, marking the 15th consecutive month of annual price increases.
continue reading »