Home sales plummet to lowest level since the Great Recession as buyers flee the market

Existing home sales in the United States fell in October to their lowest level in 16 years. Bloomberg and MarketWatch reported the decline coincided with mortgage rates around 7 percent, while Breitbart reported a 5.5 percent month-over-month drop. According to NPR, citing the National Association of Realtors, existing home sales declined 8.8 percent compared to October of the previous year.

• Bloomberg — Sales of Existing US Homes Tumble to Lowest Level Since 2010
• MarketWatch — Home sales plummet to lowest level since the Great Recession as buyers flee the market
• Breitbart — Existing-Home Sales Plunge to 16-Year Low as Mortgage Rates Climb
• Washington Post — Housing market in worst slump since the aftermath of the Great Recession
• NPR — 'Punch in the gut': Homes sales fall to their lowest in 16 years

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