U.S. Existing Home Sales Decline More Than Expected in October
Existing home sales in the United States fell by 5.5% month-over-month in October, reaching a seasonally adjusted annual rate of 3.750 million units. This decline surpassed economist expectations, which had forecasted sales at 3.860 million units. The year-over-year data also shows a significant contraction, with sales dropping by 8.8% compared to the previous year. The figures, released by the National Association of Realtors, highlight ongoing pressure in the residential real estate market as transaction volumes continue to trend downward.
Topics: Economic Indicators Existing Home Sales Housing Market