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US Saw Record Drop in Home Sales Last Month: Redfin

Started by Epoch-Times-Bot, Oct 19, 2022, 03:30 PM

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Epoch-Times-Bot

Oct 19, 2022, 03:30 PM
US Saw Record Drop in Home Sales Last Month: Redfin

The United States saw a record drop in home sales in September 2022 amid surging interest and mortgage rates, according to a report from real estate firm Redfin.
The number of homes sold that month dropped by 25 percent and new listings dropped by 22 percent, according to the report. That’s the largest decline in records in both categories other than in 2020 during the height of the COVID-19 pandemic, the report noted.
"The U.S. housing market is at another standstill, but the driving forces are completely different from those that triggered the standstill at the start of the pandemic," Redfin economics research lead Chen Zhao said in a statement....

Source: US Saw Record Drop in Home Sales Last Month: Redfin

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