Existing Home Sales Remain Subdued, While Signs Point to Continued Strength in New Home Construction
November 22, 2024
November 22, 2024
WASHINGTON, Nov. 22 -- Fannie Mae issued the following news release:
Key Takeaways:
While we had expected an increase in existing home sales in October, the sales figure was somewhat weaker than expected given the comparatively larger rise in pending sales in September. October sales likely represent most of the bump up in sales we're going to see from the brief mortgage rate dip in September, as weekly mortgage application data suggest that sales are likely to decline . . .
Key Takeaways:
While we had expected an increase in existing home sales in October, the sales figure was somewhat weaker than expected given the comparatively larger rise in pending sales in September. October sales likely represent most of the bump up in sales we're going to see from the brief mortgage rate dip in September, as weekly mortgage application data suggest that sales are likely to decline . . .