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via mortgagenewsdaily.comEconomy

Existing-home sales fall to lowest level since 2010

FROM THE WIRE · MORTGAGENEWSDAILY.COM

Existing-home sales had another rough month, and just hit their lowest level since August 2010. Mortgage rates are largely to blame. The National Association of REALTORS® (NAR) reported a 5.5% monthly decline and an 8.8% year-over-year decline , bringing the seasonally adjusted…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishFalling home sales tied to mortgage rates signal weakness in the US housing sector.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Existing-home sales fell 5.5% month over month.
  2. 02The seasonally adjusted annual rate is 3.75 million.
  3. 03Median national prices rose 0.4% year over year.

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