US Existing Home Sales Rise in September on Lower Rates, Higher Inventory

Sales of previously owned homes increased as falling mortgage rates and expanded housing supply supported buyer activity.

Summary

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Terms & Concepts
  • Existing Home Sales: A measure of the number of previously owned homes sold during a specified period, excluding new construction.
  • Mortgage Rates: The interest rate charged on a mortgage loan, influencing home affordability and demand.
  • Housing Inventory: The total number of homes available for sale in the market, impacting supply-demand dynamics and pricing.