Home sales fell to 13-year low in October

Updated November 21, 2023 at 11:13 a.m. ET

Home sales fell to a 13-year low in October as interest rates and high house prices continued to weigh on the housing market.

The affordability of buying a home is near its lowest level in decades, pushing many buyers out of the market. Existing home sales for all of 2023 are on track to be the lowest since at least 2011, according to economists’ forecasts.

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