U.S. existing home sales plunge; tight inventory keeps prices rising
Source: Reuters
Existing home sales drop 5.9% in OctoberMedian house price up 6.6% to $379,100 from year agoSupply falls 0.8% to 1.22 million unitsWASHINGTON, Nov 18 (Reuters) - U.S. existing home sales tumbled for a record ninth straight month in October as the 30-year fixed mortgage rate hit a 20-year high and prices remained elevated, pushing homeownership out of the reach of many Americans.Despite the broad decline in sales…
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