Home sales hit 16-year low in October amid record-high mortgage rates
The Guardian1 min read1 reads
Sales of built units fell to 3.75m in October, down by 8.8% from last year, with mortgage rates at nearly three-year high
A residential subdivision in Queen Creek, Arizona, on 14 October 2026. Photograph: David Blakeman for The Washington Post via Getty ImagesA residential subdivision in Queen Creek, Arizona, on 14 October 2026. Photograph: David Blakeman for The Washington Post via Getty ImagesHome sales hit 16-year low in October amid record-high mortgage rates
Sales of built units fell to 3.75m in October, down by 8.8% from last year, with mortgage rates at nearly three-year high
US existing home sales hit a 16-year low in October as buyers were driven away by record-high mortgage rates and rising inflation, according to new data released on Wednesday.
