CNBC’s Diana Olick: Home Sales Down 28.4% Year Over Year, the Slowest Sales Pace Since the End of 2011

RUSH TRANSCRIPT Also out ░░░░░░░░ economic indicators along with ░░░░░░░░ home sales for the ░░░░░░░░ of October For existing ░░░░░░░░ sales we turn to ░░░░░░░░ olick diana Well rick ░░░░░░░░ home sales in October ░░░░░░░░ 5 9 to a ░░░░░░░░ adjusted annualized rate of ░░░░░░░░ 43 million units that ░░░░░░░░ slightly better than the ░░░░░░░░ was looking for but ░░░░░░░░ were down 28 4 ░░░░░░░░ over year that s ░░░░░░░░ slowest sales pace since ░░░░░░░░ end of 2011 with ░░░░░░░░ exception of the brief ░░░░░░░░ at the start of ░░░░░░░░ pandemic despite the slowdown ░░░░░░░░ is falling There were ░░░░░░░░ 22 million homes for ░░░░░░░░ down just under 1 ░░░░░░░░ to month and year ░░░░░░░░ year at the current ░░░░░░░░ pace that s a ░░░░░░░░ 3 month supply A ░░░░░░░░ market is considered four ░░░░░░░░ six months supply That ░░░░░░░░ supply continues to hold ░░░░░░░░ floor under prices The ░░░░░░░░ price of an existing ░░░░░░░░ in October was 379 ░░░░░░░░ up 6 6 year ░░░░░░░░ year That annual comparison ░░░░░░░░ s shrinking While sales ░░░░░░░░ dropping across all price ░░░░░░░░ they re falling the ░░░░░░░░ in the 150 000 ░░░░░░░░ 250 000 range and ░░░░░░░░ million plus the high ░░░░░░░░ weakness is due to ░░░░░░░░ in the stock arket ░░░░░░░░ interest rates and global ░░░░░░░░ uncertainty all of those ░░░░░░░░ on higher end buyers ░░░░░░░░ back to you.