US Existing Home Sales Hit 16-Year Low as Mortgage Rates Remain High
Sales of previously owned US homes fell to their lowest level since 2010 in October, driven by mortgage rates averaging above 7% which deterred buyers despite a recent weekly decline in borrowing costs.
Headline and summary written by an AI model from the linked articles; not reviewed by a person. How this was made
The story so far
3 publishers have covered this in 6 articles since 9 Nov 2026. Quartz published first, on 9 November at 14:25 UTC; Bloomberg Markets followed 45h 35m later. The most recent article, from Quartz, appeared on 12 November at 15:21 UTC.
Outlets reporting it: Bloomberg Markets (major outlet), Quartz, MarketWatch.
One prediction market prices this story:
- Above 6.00% — the market puts it at 67%, closing 30 Dec 2027. The market resolves to Yes if the average rate for a 30-year fixed mortgage in Freddie Mac’s final PMMS release published during 2027 exceeds 6.00%. It resolves to No if that specific reported rate is 6.00% or lower. Readers often mistake the deadline, thinking any rate above 6% at any time counts, but only the final 2027 report matters.
Odds are the market's probability that the outcome happens, updated every few minutes. They are information about what traders expect, not a forecast we make and not investment advice.
How it unfolded
Every source in the order it published.
- QuartzHome listings are piling up in October, but price cuts are close to last year's level
- Bloomberg MarketsUS Mortgage Rates Fall for Fourth Week, Lifting Home Purchases
- QuartzU.S. mortgage rates fall to 7.21%, lifting home-purchase applications
- Bloomberg MarketsSales of Existing US Homes Tumble to Lowest Level Since 2010
- MarketWatchHome sales plummet to lowest level since the Great Recession as buyers flee the market
- QuartzU.S. existing home sales fell to lowest level since 2010 in October
Sources
Every article we clustered into this story. Headlines link to the publisher.
- Sales of Existing US Homes Tumble to Lowest Level Since 2010 Bloomberg Markets ·
- US Mortgage Rates Fall for Fourth Week, Lifting Home Purchases Bloomberg Markets ·
- U.S. existing home sales fell to lowest level since 2010 in October Quartz
- Home sales plummet to lowest level since the Great Recession as buyers flee the market MarketWatch
- U.S. mortgage rates fall to 7.21%, lifting home-purchase applications Quartz
- Home listings are piling up in October, but price cuts are close to last year's level Quartz
Related prediction markets
Linked by software because they are about the same subject. Most ask a different question from the one this story reports, so read each market's own question. How often the link is right
- Kalshi Above 6.00% · 30-year mortgage rate at the end of 2027 67%
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In this story
- Mortgage Bankers Association