U.S. existing home sales fell 2.2% in September as the housing market continues to tread water with a dearth of properties for sale, especially cheaper homes, and a lack of interested buyers despite historically low mortgage rates.
Why it matters: It's the latest example of the U.S. real estate market's continued struggles.
- The National Association of Realtors said existing home sales fell to an annual rate of 5.38 million units last month, reversing two straight months of gains and holding in a range well below its highs from the mid-2000s.