US existing home sales, Real Estate

Fri, Oct 19, 2018 – 10:55 PM

[WASHINGTON] US home sales fell in September by the most in the two years of the market.

The National Association of Realtors said last month.

Home sales have fallen for six straight months. A dearth of properties, sidelining many would-be homeowners. Sales dropped the most in the South and the decline in the West left 12.2 per cent from a year earlier. NAR Chief Economist Lawrence Yun said the overall decline.

Supply has been constrained by rising and rising, while rising rates are expected to slow demand.

The Federal Reserve Raised Borrowing Costs in September for the Third Time

Economists polled by the United States. Existing home sales make up about 90 percent of US home sales.

There were 1.88 million homes on the market in September, an increase of 1.1 percent from a year ago.

At September's sales pace, it would take 4.4 months to clear the current inventory. A supply of six to seven months is viewed as a healthy balance between supply and demand.

The median house price increased 4.2 percent from US $ 258,100 in September.

REUTERS