Seasonality Can't Quite Explain October Housing Slowdown

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Posted To: MND NewsWire

Home sales appeared to slam on the brakes in October, at least according to Redfin. The company said sales increased by only 0.3 percent compared to October 2014 representing "an abrupt slowdown from September's double-digit growth." Even some of the hot markets among the 67 metropolitan areas tracked by the Seattle based company were among the 27 that posted slower sales than a year earlier. They included Seattle, Denver, Austin, Miami and Dallas. When compared to September sales fell everywhere except San Francisco, Buffalo, Allentown, and Miami. Redfin said the downturn in sales was more than a typical seasonal slowdown but didn't know the reason for it happening. There were several factors that might have contributed, a shortage of homes for sale, weather, or the new TRID rule on closing...(read more)

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Source: http://www.mortgagenewsdaily.com/11192015_home_sales_redfin.asp

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