Real estate deals are expected, with more contracts signed to buy real estate, falling 2.3% unexpectedly in September compared to August, according to the National Realtors Association.
The researchers expected a shorter month. Prices were down 8% compared to September 2020.
Demonstrations are expected to end in a few months.
The price may be lower because of higher mortgage prices. The 30-year-old mortgage rate fell below 3% in July and remained until the first week of September, according to Mortgage News Daily. It then started rising above 3%, finishing the month by 3.15%.
Buyers are concerned about the high cost of living. Revenue is about 20% annually. However, there were indications that the market was cold in August, with lower prices coming to sell.
“Contract prices are down in September and are showing a decline in house prices, as markets are moving ahead of the crisis,” said Lawrence Yun. NAR chief economic officer. “It is important to note that there will be fewer reviews at the end of the year compared to the summer months, which occur every year.”
Locally, sales in the northeast dropped by 3.2% per month and decreased by 18.5% from the previous year. In the Midwest, sales decreased 3.5% per month and 5.8% per year.
Southern trade declined 1.8% per month and 5.8% from September 2020. Western business declined 1.4% per month and 7.2% from the previous year.