WASHINGTON, Nov 18 (Reuters) – U.S. home resales fell for the ninth consecutive month in October as interest rates continued to rise and home prices remained high. , which excludes many potential buyers from the market.
At 4.43 million annualized data, the number of resales in residential real estate fell 5.9% in October, said the National Association of Realtors, the main American federation of real estate agents.
This is the lowest annualized volume since December 2011 excluding the initial phase of the COVID-19 pandemic in the spring of 2020.
Economists polled by Reuters forecast an average of 4.38 million transactions.
On an annual basis, home resales fell by 28.4% in October.
Mortgage rates have risen sharply in recent months in the United States due to the increase in interest rates by the Federal Reserve: the cost of a 30-year fixed-rate loan thus exceeded 7% last month for the first time since 2002 according to mortgage refinancing agency Freddie Mac.
At the same time, the median price of resale housing still rose by 6.6% over one year, to 379,100 dollars (366,634 euros) in October. It is on an upward trend on an annual basis for the 128th consecutive month, an unprecedented series. (Report Lucia Mutikani, French version Marc Angrand, edited by Blandine Hénault)
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