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Home sales fell again in September as surging mortgage rates, rising prices discouraged homebuyers
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File - A housing development in Middlesex Township, Pa., is shown on Oct 12, 2022. On Thursday, the National Association of Realtors releases data for sales of existing homes last month. - photo by AP Photo/Gene J. Puskar, File
LOS ANGELES (AP) — Sales of previously occupied U.S. homes fell for the fourth month in a row in September, held back by surging mortgage rates and a thin supply of properties on the market. Existing home sales fell 2% last month from August to a seasonally adjusted annual rate of 3.96 million, the National Association of Realtors said Thursday. That’s just above the 3.9 million unit pace that economists were expecting, according to FactSet.