Category: housing sentiment

Sales of Previously Owned Homes Drop for Ninth Month Straight as Mortgage Increases and Inventory Falls

Existing-home sales declined for the ninth straight month in October, falling 5.9 percent from September, according to the┬áNational Association of Realtors (NAR),┬árevealing the demand-dampening effects of higher interest rates amid decades-high inflation. Existing-home sales for October registered a seasonally adjusted annual rate of 4.43 million, a fall of 28.4 percent from 6.19 million in 2021….

US Housing Sentiment Drops to Lowest in Over a Decade

Housing sentiment in the United States, as measured by the Fannie Mae Home Purchase Sentiment Index (HPSI), has fallen to its lowest level in more than 10 years. In July, the HPSI declined by two points, to 62.8, the lowest level since 2011 and far below the all-time high set in 2019, according to an…