US home sales fall in September as median sales price increases to $404,500

US home sales fall in September as median sales price increases to $404,500

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The US housing market has seen a decline, with homes reaching a 14-year low. The National Association of Realtors reported a 1% decrease in contract closings from August. Additionally, the number of homes on the market has increased by 23% compared to the previous year. Many prospective home buyers are holding off on purchases, anticipating a drop in mortgage rates.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What recent trend has been observed in the US housing market?

A decline to nearly 14-year lows

A rise in mortgage rates

An increase in new home constructions

An increase in home prices

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What did the National Association of Realtors report about contract closings?

They decreased by 1%

They increased by 1%

They remained stable

They increased by 5%

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

By what percentage has the number of homes on the market increased compared to last year?

10%

30%

15%

23%

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are many prospective home buyers waiting for?

A rise in home prices

A drop in mortgage rates

An increase in available homes

A decrease in property taxes

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the current trend in the number of homes available on the market?

It has increased by 10%

It has remained the same

It has decreased by 23%

It has increased by 23%