{
  "id": 19747118,
  "title": "US existing home sales fall to lowest level since 2010",
  "url": "https://urgent.news/2026/11/13/us-existing-home-sales-fall-to-lowest-level-since-2010",
  "topic": "world",
  "section": "World",
  "published": "2026-11-13T02:36:11.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/property/2026/11/1576656/us-existing-home-sales-fall-lowest-level-2010"
  },
  "original_language": "en",
  "account": "Sales of previously owned homes in the United States declined to a 16-year low in October, according to the National Association of Realtors (NAR). The drop was attributed to rising mortgage rates, which have reached their highest levels since 2000, excluding one month in 2023. Lawrence Yun, chief economist at NAR, noted that home buying has become difficult due to these high rates. The 30-year mortgage rate, a common method for U.S. home purchases, stands at 7.18 per cent, surpassing the six per cent mark in February. This increase came before the start of the US-Israel conflicts with Iran, which raised energy costs and added to inflation. Despite a 0.4 per cent increase in median home prices to US$416,700 in October, total housing inventory rose by 4.6 per cent. Yun suggested that there may be a significant backlog of demand if mortgage rates were to drop, given the current sluggish pace of home sales amid steady job growth.",
  "summary": "NEW YORK: Sales of previously owned US homes dropped to a more than 16-year low in October due to the drag from higher lending rates, a US realtors association said Thursday.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}