US existing home sales fell to a 14-year low in September. “The factors that would drive higher home sales —- such as mortgage rates meaningfully lower now compared to one year ago, inventory beginning to increase and, of course, jobs continuously being added to the economy —- and yet home sales are stuck at low levels,” says Lawrence Yun, the chief economist at the National Association of Realtors. In sharp contrast, sales of new homes has been trending higher in recent years.
