‘A very tough market out there’: U.S. home sales fell 2.2% from last year as mortgage rates and prices rise

Sales of previously occupied U.S. homes rose in September from the previous month, but slowed compared to a year ago, the latest sign the housing market remains stalled as rising mortgage rates and home prices discourage prospective homebuyers. Existing home sales rose 1.5% last month from August to a seasonally adjusted annual rate of 3.99 million units, the National Association of Realtors said Tuesday. One of the factors in the monthly increase is that sales in August were revised lower. Sales fell 2.2% compared with September last year.

Source: Fortune Crypto