National Association of Realtors (NAR)

October sales plunged 5.5% as high mortgage rates sidelined buyers, with economists warning the slowdown could extend into November and December closings

NAR finds nearly one-third of repeat buyers pay cash, narrowing the pool of financed purchase transactions for lenders

NAR reports September’s sales pace remained below 4 million, while more inventory gave buyers negotiating room and higher rates weighed on the outlook for demand

Employers added just 29,000 jobs in September, sending Treasury yields lower and offering a potential counterweight to the recent rise in mortgage rates

Existing-home supply reached its highest level since 2019, but elevated payments and economic uncertainty pushed sales to a 14-month low

Sales fell 10.5% in July as inventory climbed, leaving builders increasingly dependent on price cuts, mortgage-rate buydowns, and other incentives