🇺🇸 U.S. home sales just hit their LOWEST level since 2010. But the median sale price is still RISING. Existing-home sales fell 5.5% in October to an annualized pace of just 3.75 MILLION, down 8.8% from a year ago. Yet the median home sold for $416,700, UP 0.4% over the same period. Buyers are pulling back. But the homes changing hands are still getting more expensive. And financing them costs more, too. The average 30-year mortgage rate stands at 7.11%, compared with 6.24% a year ago. To put that into perspective: On a $400,000 mortgage over 30 years, that difference adds roughly $230 to the MONTHLY payment. Same loan. Roughly $2,760 more a year, before property taxes and insurance. Meanwhile, 1.59 MILLION existing homes were sitting unsold at the end of October. At the current sales pace, that represents 5.1 months of supply, up from 4.4 months a year earlier. That creates a growing problem for sellers: more competition for buyers who are already stretched by borrowing costs. And for buyers, a slower market still hasn’t delivered broad relief on the price of homes being sold. Housing activity is back at 2010 levels. Affordability is still under pressure from BOTH prices and debt.