U.S. home sales drop to 14-year low due to rising mortgage costs and inflation.
In September 2022, U.S. home sales dropped to their lowest annual rate in nearly 14 years, despite a slight decline in mortgage rates and increased housing supply. This downturn is linked to rising mortgage costs, inflation, and supply chain issues affecting construction, which have made homeownership less affordable for many buyers, further slowing the housing market.
5 months ago
181 Articles