# US existing home sales fell to their lowest level since 2010

- URL: https://talkfuse.com/story/home-sales-hit-16-year-low-in-october-amid-record-high-mortgage-rates/
- Published: 2026-11-12T17:26:07+00:00
- Updated: 2026-11-12T17:47:24+00:00
- Original publisher: The Guardian (publisher lean: Left)
- Original article: https://www.theguardian.com/business/2026/nov/12/home-sales-october-low
- Topics: Americas, Business, Economy, Politics, World

## Key points

- US existing-home sales fell to 3.75 million in October.
- Sales reached their lowest level since August 2010.
- Mortgage rates near 7.18% are weighing on affordability.

## Summary

Sales of existing homes in the US fell to 3.75 million in October, their lowest level since August 2010, as higher borrowing costs and inflation deterred buyers. The decline highlights mounting pressure on housing affordability, which has also been a concern for voters amid rising living costs.

Sales were down 8.8% on a year earlier, while the median price edged up to $416,700. The average 30-year mortgage rate was about 7.18%, near a three-year high and well above pandemic levels of just over 3%; sales fell in the Midwest, South and West but held steady in the North-east. Economists cited financial uncertainty and seasonal factors, while the Federal Reserve was expected to raise interest rates again to curb inflation.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.