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Sales of previously occupied U.S. homes fell in September for the eighth month in a row, matching the pre-pandemic sales pace from 10 years ago, as house hunters grappled with sharply higher mortgage rates, rising home prices and a still tight supply of properties on the market. The National Association of Realtors said Thursday existing home sales fell1.5% last month from Augustto a seasonally adjusted annual rate of 4.71 million.That’s slightly higher than what economists expected, according to FactSet. Meanwhile, Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate tickedupthisweek to6.94%from6.92%lastweek. Last year at this time, the rate was 3.09%. The average rate on 15-year, fixed-rate mortgages, popular among those looking to refinance their homes, jumped to 6.23% from 6.09% last week.

For all your Residential and Commercial Real Estate Sales & Appraisal needs please contact:
James M. Hanson Associates, Inc.
Phone: (609) 884-9185
Email: jimhanson1@comcast.net
For Sale Cape May County Real Estate

Community Resource Links
Cape May Chamber of Commerce
Cape May County Chamber of Commerce
Avalon Chamber of Commerce
Atlantic City Chamber of Commerce