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Friday, December 9, 2022

October existing home sales hit fastest pace since January | ABC News

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Even though demand for the limited houses on the market drove up prices, purchases of formerly inhabited US homes moved higher in October, reaching their fastest annual rate since January. The National Association of Realtors said Monday that existing home sales increased 0.8 percent in October from September to a seasonally adjusted annual rate of 6.34 million units. According to FactSet, this was higher than the 6.18 million units expected by economists. Sales dropped 5.8% from October of the previous year when they peaked after a summer and fall spike as shoppers who had stayed away during the early days of the pandemic returned.

Source: https://abcnews.go.com/Business/wireStory/october-existing-home-sales-hit-fastest-pace-january-81328263

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