Economy

Home sales hit 16-year low in October amid record-high mortgage rates

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 12/11/2026, 17:35:25 UTC.

Briefings

US existing home sales reached a 16-year low in October at 3.75 million units, a 8.8% decline from the previous year. This drop coincided with mortgage rates hitting nearly three-year highs, which drove buyers away. The median existing-home sales price rose slightly to $416,700. Sales declines were observed in the midwest, south, and west, while the north-east saw steady sales. The data was released by the National Association of Realtors (NAR) on Wednesday.

Key points

• US existing home sales fell to 3.75 million in October, a 16-year low, marking an 8.8% decline from last year.
• The median existing-home sales price increased slightly to $416,700 despite the sharp drop in volume.

Context

The National Association of Realtors (NAR) reported the figures, highlighting that buyers were driven away by record-high mortgage rates and rising inflation. This trend affected sales across the midwest, south, and west, though the north-east held steady.

Limitations

Data covers only October 2026. Sales figures are based on NAR reports and may not reflect all market activity. The specific impact of inflation on buyer behavior is inferred rather than measured.

Generated by Bittrees-hosted qwen35-2b sha256:aaf42c8b7c3c on 13/11/2026, 06:04:13 UTC. Based on publisher-provided feed evidence; may not cover the full original article. Check the source for details.

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