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Existing home sales drop 9% as mortgage rates rise above 7%, pushing monthly payments up 13%.

Market News
05 Nov 2026, 15:00 WIB
PRNewsWire
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Bearish
Existing home sales drop 9% as mortgage rates rise above 7%, pushing monthly payments up 13%.

Existing home sales fell 8.7% year over year in October, driven by mortgage rates rising above 7%, which increased typical monthly payments by 12.8%. Newly pending listings, a predictor of future sales, dropped 16.8%, marking the largest decline since August 2023. Home values remained nearly flat, while rents rose 2.9%, reflecting a strengthening rental market. The slowdown is expected to continue into November but may ease in 2027 if mortgage rates stabilize or fall.

Newly pending listings fell 16.8% year over year in October, the largest drop since August 2023, as of Nov 05, 2026 20:11 WIB. For readers following the real estate sector, here is Pluang's market snapshot: out of 47 priced US real estate stocks tradable on Pluang, 33 rose and 14 fell today. Notable movers include JLL at USD 375.30 with a 1-day change of -3.85% and a typical hold time of 72 days, AMH at USD 31.57 down 3.25%, and BEKE up 3.23% at USD 19.17 with a typical hold time of 26 days. The most notable figure is JLL's 70% sell order activity.

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