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The Economic Times
The Economic Times
National

US existing home sales rise in September; higher mortgage rates dim outlook

Mortgages United States National Association of Realtors

WASHINGTON: US existing home sales unexpectedly increased in September as rising inventory offered buyers more choice, but the trend remained subdued against the backdrop of higher mortgage rates.

Home sales rose 1.5% last month to a seasonally adjusted annual rate of 3.99 million units, the National Association of Realtors said on Tuesday. Economists polled by Reuters had forecast home resales would decline to a rate of 3.95 million units.

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