US home sales fell in September for eighth straight month

House
FILE - This is a home in Mount Lebanon, Pa., under contract, Oct. 17, 2022. (AP Photo/Gene J. Puskar, file)

By ALEX VEIGA
AP Business Writer

Sales of previously occupied U.S. homes fell in September for the eighth month in a row, matching the pre-pandemic sales pace from 10 years ago, as house hunters grappled with sharply higher mortgage rates, rising home prices and a still tight supply of properties on the market.

The National Association of Realtors said Thursday that existing home sales fell 1.5% last month from August to a seasonally adjusted annual rate of 4.71 million.

That’s slightly higher than what economists were expecting, according to FactSet. Sales fell nearly 24% from September last year.

The national median home price rose 8.4% in September from a year earlier to $384,800.

Categories: National News, News