US Previously Owned Home Sales Fall to an Almost 14-Year Low
- NAR report showed a 1% drop in September to 3.84 million pace
- Number of available homes increased 23% from a year ago
Homes in Centreville, Maryland.
Photographer: Nathan Howard/BloombergThis article is for subscribers only.
US sales of previously owned homes declined to an almost 14-year low in September as prospective buyers waited for a further decline in mortgage rates and more attractive asking prices.
Contract closings decreased 1% from a month earlier to a 3.84 million annualized rate, according to figures released Wednesday from the National Association of Realtors. Economists surveyed by Bloomberg expected a 3.88 million pace, based on the median projection.