U.S. home resales fall by more than expected in September

WASHINGTON ― Sales of existing U.S. homes fell 2.2% in September, according to data from the National Association of Realtors, amidst an ongoing supply shortage. The seasonally adjusted annual rate of 5.38 million units fell short of the 5.45 million units forecast by economists in a Reuters poll, a drop of just 0.7%. It follows on two consecutive monthly gains, with August’s revised upward to 5.50 million units.