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Existing home sales remain mediocre

Data: Investing.com; Chart: Axios Visuals

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.

Go deeper: Existing home sales disappoint again in April