Increase in sales of existing homes; Federal government warns of salmonella outbreak linked to onions
Sales of previously occupied homes in the United States rebounded in September to their highest pace since January as mortgage rates rise, prompting buyers to pull out.
The National Association of Realtors said Thursday that sales of existing homes rose 7% from August to a seasonally adjusted annual rate of 6.29 million units. It was stronger than the 6.11 million units economists were expecting, according to FactSet.
Sales were down 2.3% from September last year, at a time when home purchases jumped as buyers who held back during the first months of the pandemic came back with a vengeance.
“The increase in sales over the past month that I would attribute to mortgage rates,” said Lawrence Yun, chief economist for the NAR. “This fall season appears to be one of the best fall home selling seasons in 15 years.”
While the average rate on a 30-year mortgage remains near historic lows, it has risen slightly since August, when the weekly rate averaged 2.77%, according to Freddie Mac.
Federal government warns of salmonella outbreak linked to onions
An outbreak of salmonella linked to onions has sickened more than 650 people in 37 states, U.S. health officials have said.
The Centers for Disease Control and Prevention said at least 129 people had been hospitalized. Nobody died. Almost all of the illnesses were reported in August and September, with the most cases occurring in Texas and Oklahoma.
The outbreak has been attributed to whole red, white and yellow onions imported from Chihuahua, Mexico, and distributed across the United States by ProSource Inc., the CDC said this week.