Sales Of New Homes Plunged Nearly 11% In September
Sales estimates for previous three months also revised downward, reflecting the rise in mortgage rates.
Sales estimates for previous three months also revised downward, reflecting the rise in mortgage rates.
Data released today for August 2022 show that home price gains decelerated across the United States.
Hurricane Ian had some impact.
National Association of Realtors says inventory also fell.
Price growth is slowing faster in cities than in the suburbs.
Single-family home prices increased nearly 14% in 3Q 2022.
Rapid rising rates are contributing to negative GDP growth.