Existing-Home Sales Hits Lowest Level in 13 Years

The National Association of Realtors is reporting that existing home sales were down 4.1% in October to a seasonally-adjusted annual rate of 3.79 million (down 14.6% year over year). Total housing inventory at the end of October was 1.15 million units, up 1.8% from September but down 5.7% from one year ago. Unsold inventory sits at a 3.6-month supply at the current sales rate with properties remaining on the market for around 23 days. Continue reading HERE...