Existing Home Sales Dip 15 Percent Yearly to Lowest Level Since 2010

Published on November 23, 2023

The sale of existing homes in the United States dipped by almost 15 percent over the past year amid tight inventory and elevated mortgage rates, according to the National Association of Realtors (NAR). Existing home sales fell from 4.44 million units last October to 3.79 million in October 2023, registering an annual decline of 14.6 percent, according to a Nov. 21 NAR press release. On a monthly basis, sales fell by 4.1 percent from September. “Prospective home buyers experienced another difficult month due to the persistent lack of housing inventory and the highest mortgage rates in a generation,” said NAR Chief Economist Lawrence Yun. In an interview with Fox, Daniel Vielhaber, an economist at insurance firm Nationwide, said that “existing-home sales fell in October to the lowest level since 2010 as the housing market remains paralyzed by high mortgage rates.”...

Continue reading on website
Other news

Republican-Drawn Map for Tennessee’s Senate Seats Violates State Constitution, Judges Rule

November 23, 2023
A Republican-drawn map for Tennessee’s Senate seats violates the state Constitution and must be redrawn by the state’s General Assembly, a 2–1 panel on a Tennessee trial court ruled on Nov. 22.The decision from the three-judge panel was issued in response to a lawsuit filed on behalf of three Democratic voters in February 2022 challenging Tennessee’s new state House and Senate maps which were pass

US Warship Shoots Down Multiple Drones Fired From Yemen

November 23, 2023
A U.S. warship shot down “multiple one-way attack drones” fired from Houthi-controlled areas in Yemen while it was cruising on the Red Sea on Nov. 23, according to the U.S. Central Command (CENTCOM).CENTCOM, the U.S. military combatant command responsible for the Middle East, stated on X (formerly known as Twitter) that the USS Thomas Hudner shot down the drones while patrolling the Red Sea.There