NAR: Existing-home sales dialed back this fall

  • Existing-home sales are starting to trail off, with no geographic regions of the country reporting gains in sales in October.
  • NAR Chief Economist Lawrence Yun pointed to ongoing supply shortages and persistent affordability concerns in some markets.

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After maintaining a healthy selling pace for most of this year, existing-home sales are starting to trail off, with no geographic regions of the country reporting gains in sales in October, according to the National Association of Realtors (NAR). Completed sales, including single-family homes, townhomes, condominiums and co-ops, totaled 5.36 million last month, a 3.4-percent decrease from September’s revised total of 5.5 million, NAR said.