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Thursday, October 20, 2022

More Analysis on September Existing Home Sales

by Calculated Risk on 10/20/2022 10:39:00 AM

Today, in the CalculatedRisk Real Estate Newsletter: NAR: Existing-Home Sales Decreased to 4.71 million SAAR in September


The second graph shows existing home sales by month for 2021 and 2022.

Existing Home Sales Year-over-yearSales declined 23.8% year-over-year compared to September 2021. This was the thirteen consecutive month with sales down year-over-year.
Existing home sales are being impacted by higher mortgage rates. Rates have increased sharply in October, and that will impact closed sales in November and December - so I expect further declines in sales later this year.
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