Today, in the CalculatedRisk Real Estate Newsletter: NAR: Existing-Home Sales Decreased to 4.71 million SAAR in September
Excerpt:
The second graph shows existing home sales by month for 2021 and 2022.
Sales declined 23.8% year-over-year compared to September 2021. This was the thirteen consecutive month with sales down year-over-year.
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Existing home sales are being impacted by higher mortgage rates. Rates have increased sharply in October, and that will impact closed sales in November and December – so I expect further declines in sales later this year.
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