US Existing-Home Sales Sink to Lowest Level Since 2010
- Contract closings dropped 2% in September to 3.96 million pace
- NAR’s housing affordability index fell in August to record low
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Sales of previously owned US homes fell in September to the lowest level since 2010 as affordability worsened even further.
Contract closings decreased 2% from a month earlier to a 3.96 million annualized pace, National Association of Realtors data showed Thursday. The median estimate in a Bloomberg survey of economists called for a reading of 3.89 million.