U.S. home sales decline eighth month in a row

Home sales in the U.S. have declined for the eighth month in a row in September.

CNN— Home sales in the U.S. have declined for the eighth month in a row in September.

According to the National Association of Realtors, existing home sales fell 1.5% last month from the prior month and fell to the lowest level in 10 years.

Home resales which account for the bulk on U.S. home sales have also decreased by nearly 24%.

Home owners aren’t selling their existing spaces because they want to hold on to the lower mortgage rates so the houses that are for sale are going for more.