Sales fell 5.5% from September and 8.8% from a year earlier, while the median price rose to $416,700.
Key takeaways
Existing-home sales fell to 3.75 million in October, their lowest level since August 2010.
The median sale price rose 0.4% from a year earlier to $416,700.
U.S. existing-home sales fell 5.5% in October to 3.75 million, the National Association of Realtors reported. Sales were down 8.8% from a year earlier and at their lowest level since August 2010.
The median sale price rose 0.4% year over year to $416,700. The decline in sales was sharper than the 3.5% drop expected by the market, according to Dünya.
NAR chief economist Lawrence Yun said buying a home was difficult with mortgage rates at their highest levels since 2000, apart from one month in 2023.
