'Punch in the gut': Homes sales fall to their lowest in 16 years

Existing homes sales in October declined 8.8% from a year earlier, according to the National Association of Realtors.

<img src='https://npr.brightspotcdn.com/dims3/default/strip/false/crop/8192x5308+0+0/resize/8192x5308!/quality/85/format/webp/?url=http%3A%2F%2Fnpr-brightspot.s3.amazonaws.com%2F04%2F99%2Fb8658ed24ce8afe9d884ffc536e5%2Fgettyimages-2270294552.jpg' alt='Home sales fell to their lowest since 2010, a new report shows, in large part due to high mortgage rates.'/><p>Existing homes sales in October declined 8.8% from a year earlier, according to the National Association of Realtors.</p><p>(Image credit: Mario Tama)</p><img src='https://media.npr.org/include/images/tracking/npr-rss-pixel.png?story=nx-s1-6038940' />