# US home sales drop to 2010 low as mortgage rates hit 7%

> US home sales fall to lowest level since 2010 as mortgage rates top 7%.
- Title: US home sales drop to 2010 low as mortgage rates hit 7%
- Summary: US home sales fall to lowest level since 2010 as mortgage rates top 7%. US existing home sales dropped to 3.75 million in October, the slowest pace since…
- Keywords: us existing home sales, mortgage rates, 30-year fixed rate, national association of realtors, lawrence yun, existing home price, home sales decline, Startup Fortune
- Source: Startup Fortune — https://startupfortune.com/us-existing-home-sales-fall-to-lowest-level-since-2010-as-mortgage-rates-top-7
- Published: 2026-11-12T22:41:44+00:00
- Read time: 1 min
- Topics: us existing home sales, mortgage rates, 30-year fixed rate, national association of realtors, lawrence yun, existing home price, home sales decline, startups, business
## US home sales drop
US existing home sales fell 5.5% in October to a seasonally adjusted annual rate of 3.75 million.
## Mortgage rates rise
The average 30-year fixed mortgage rate reached 7.33% in October, up from 6.86% in September.
## Sales slowest since 2010
Existing home sales are the slowest pace since August 2010 and 8.8% below a year earlier.
## Regional sales drop
Sales fell from September in the Midwest, South and West and held steady in the Northeast.
## Prices barely rise
The median existing-home price was $416,700, up just 0.4% from a year ago.
## Mortgage rates impact
Mortgage lenders live off origination volume, and a 3.75 million pace is thin for the industry.
## Next data point
The December Fed meeting is the next data point worth watching for mortgage rates.
## Key takeaway

US existing home sales dropped to 3.75 million in October, the slowest pace since August 2010, as mortgage rates reached 7.33%.