---
title: The Most Important Thing Today (9/26/23)
description: Proactive communication about what’s going on in the market and the economy is key to building stronger client relationships. Each week, the Helios team breaks down the most important information your
---

[Helios Insights ](https://heliosdriven.com/helios-insights)

# [The Most Important Thing Today (9/26/23)](https://heliosdriven.com/helios-insights/the-most-important-thing-today-9-26-23)

 Written by [Team Helios](https://heliosdriven.com/helios-insights/author/teamhelios) | Sep 26, 2023 4:50:19 PM

| 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***

[View full post](https://heliosdriven.com/helios-insights/the-most-important-thing-today-9-26-23)

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