October Home Sales Fall at Slower Pace Amid Softening Demand
Mortgage rates continued to rise in October, softening demand pressure slightly as we move into the off-peak housing market.
Existing home sales fell by just 7.2% in October 2023 compared to October 2022, which is the first time since August 2022 that the annualized decline in sales has been in the single digits.
The median price rose 7.7% to $280,000 over that same 12-month period.
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