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Home sales hit 16-year low in October amid record-high mortgage rates

12.11.2026 19:26 | The Guardian World

Sales of built units fell to 3.75m in October, down by 8.8% from last year, with mortgage rates at nearly three-year highUS existing home sales hit a 16-year low in October as buyers were driven away by record-high mortgage rates and rising inflation, according to new data released on Wednesday.Sales of already built units dropped to 3.75m in October, down by 8.8% from last year, the National Association of Realtors (NAR) reported. The median existing-home sales price increased slightly to $416,700. Declines in sales were seen in the midwest, south and west, though sales in the north-east held steady. Continue reading...

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