News Formal

Existing home sales fall in September as high mortgage rates freeze market

  • 📰 dcexaminer
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 94%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Zachary Halaschak is an economics reporter at the Washington Examiner. Before moving to Washington, he worked in Alaska, covering politics, government, and crime for the Ketchikan Daily News. While there, Zach won the Alaska Press Club’s second-place award for best reporting on crime or courts for his coverage of a local surgeon’s alleged murder.

Home sales in September slowed 2% to a seasonally adjusted annual rate of 3.96 million, the National Association of Realtors reported Thursday, as higher mortgage rates priced out many would-be buyers and led many homeowners to avoid selling and having to reenter the home loan market.HEALTH INSURANCE PREMIUMS SOAR IN 2023 TO AVERAGE OF $24,000 FOR FAMILY PLAN

The median price of an existing home in September was $394,300, an increase of 2.8% from the year before. Additionally, homes typically remained on the market for 21 days in September, up from 20 days in August and 19 days in September 2022.The average rate on a 30-year fixed-rate mortgage has now hit 8%, according to Mortgage News Daily. That number marks the highest level of rates in 23 years.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Home-Sales Report to Show How Much High Rates Squeezed MarketEconomists estimate purchases of existing homes fell in September
Source: WSJ - 🏆 98. / 63 Read more »

Biden threatens to veto Kennedy proposal to cancel 'woke' small business lending ruleZachary Halaschak is an economics reporter at the Washington Examiner. Before moving to Washington, he worked in Alaska, covering politics, government, and crime for the Ketchikan Daily News. While there, Zach won the Alaska Press Club’s second-place award for best reporting on crime or courts for his coverage of a local surgeon’s alleged murder.
Source: dcexaminer - 🏆 6. / 94 Read more »