Existing-home sales drop in September

Existing-home sales dropped in September amid reduced home affordability, as prices continued to rise on an annual basis, the National Association of Realtors (NAR) reported. “Affordability has fallen to a five-year low as home price increases easily outpaced income growth,” said Lawrence Yun, chief economist at NAR. “Expected rising mortgage interest rates will further lower …

Continue reading ‘Existing-home sales drop in September’ »