Contracts to buy U.S. previously owned homes fell for a second straight month in October as an acute shortage of properties pushed up prices, though the housing market remains supported by record-low mortgage rates.
Other data on Nov. 30 showed activity at factories in the Midwest and Texas slowing, likely as a nationwide resurgence in new COVID-19 infections curbed new orders and disrupted production. The reports support expectations of a sharp slowdown in economic growth in the fourth quarter because of the raging coronavirus pandemic and depleted fiscal stimulus.
