Purchases of previously-owned U.S. homes fell in October to the lowest level in four months as limited supply and higher mortgage rates restrained momentum in the housing-market recovery.
Sales of existing U.S. homes fell in September for the first time in three months as higher prices and mortgage rates curbed demand in an industry that helped boost the expansion last year.
"The consistent economic growth and steady hiring we've seen in the second half of this year is giving buyers enough assurance to consider purchasing a home before year's end."
- Lawrence Yun on Dec 31, 2014
NAR's Yun Says Home Sales Limited by Weather, Prices (Audio)