The Most Important Thing Today (9/26/23)

Team Helios : Updated on January 19, 2026

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Let's talk about housing!

Existing-Home Sales Hit Seven-Month Low as Affordability Worsens

In August, US existing home sales dropped to their lowest level this year, down 0.7% to an annualized pace of 4.04 million. Year-over-year, sales fell by 15.4%.
The number of homes for sale decreased to 1.1 million, marking the smallest August inventory since 1999.
The decline in existing home sales can be attributed to a combination of factors, including elevated prices, high mortgage rates, and limited inventory, resulting in one of the least affordable housing markets on record.
Despite challenges in the housing market, the labor market remains robust, with new unemployment benefit applications dropping to their lowest level since January

Sources: Helios Quantitative Research, Bloomberg, National Association of Realtors, Department of Labor

1 min read

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