New Home Sales Weaken in October

Sales were down 5.6% month-to-month, but they’re up 17.7% year-to-year and up 4.6% so far in 2023. About 30% of all Oct. home sales were new construction.

Home Sales Likely to Weaken in Near Term

Fannie Mae researchers: Mortgage rates in 2024 will retreat from recent highs and average 6.8% by year’s end; in turn, home sales will increase modestly over the year.

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