What recent trend was reported regarding homes in the US?
US home sales fall in September as median sales price increases to $404,500
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The US housing market has seen a decline, with homes reaching a 14-year low. The National Association of Realtors reported a 1% decrease in contract closings from August. Additionally, the number of homes on the market has increased by 23% compared to the previous year. Many prospective home buyers are holding off on purchases, anticipating a drop in mortgage rates.
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1.
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2.
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What did the National Association of Realtors report about contract closings?
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3.
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By what percentage did closings decrease?
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4.
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How has the number of homes on the market changed compared to a year ago?
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5.
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What are many prospective home buyers waiting for?
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