Existing Home Sales Slide to 13-Year Low

Existing Home Sales Slide to 13-Year Low

Sales fell below the $4 million mark in September, marking the slowest month for existing home sales since October 2010. The National Association of Realtors® (NAR) said sales of preowned single-family houses, townhouses, condos, and cooperative apartments sold at a seasonally adjusted annual rate of 3.96 million units last month, a 2.0 percent decline from the rate of 4.04 million posted in August. Home sales in September 2022 were at an annual rate of 4.68 million units. While the results were dismal, they were still slightly better than expected. Analysts for Econoday had a consensus estimate of 3.90 million units. Single-family home sales slipped to a seasonally adjusted annual rate of 3.53 million in September, down 1.9 percent from 3.6 million in August and 15.8 percent lowe