In yet another sign that the housing boom is fizzling, existing home sales declined last month, pushing up inventories to a 19-year high, a new report found.
Sales slipped a greater-than-expected 2.7 percent in October from September's pace, according to the National Association of Realtors, a Washington D.C.-based industry group. The drop would have been 3.2 percent but for the people forced to relocate after the hurricanes.
Noticed more houses on the market? I have. It will be a pity that rising rates will only put more housing on the market, at cheaper prices.
