(CercleFinance.com) – Sales of existing homes in the United States fell for a ninth straight month in October from the previous month, falling 5.9% to an annualized rate of 4.43 million, data shows. seasonally adjusted from the National Association of Realtors.
“More potential buyers were prevented from qualifying for a mortgage in October as mortgage rates rose,” said Lawrence Yun, NAR’s chief economist.
The median selling price was $379,100, up 6.6% from a year ago. The stock of unsold second-hand homes fell for a third consecutive month to stand at 1.22 million at the end of October.
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