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US existing home sales fall to weakest pace in over a year amid high mortgage rates

By PulseAugur Editorial · [1 sources] ·

Existing home sales in the United States experienced their slowest rate in over a year during August, with contract closings falling by 2% to an annualized rate of 3.98 million. This slowdown is attributed to high mortgage rates, which remain at their highest levels in more than a year, deterring potential buyers. Despite the dip in sales volume, the median sales price saw a modest increase of 1.6% year-over-year, reaching $429,100. AI

RANK_REASON Article discusses economic data and expert commentary on the US housing market, not a core AI development.

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AI-generated summary · Google Gemini · from 1 sources. How we write summaries →

US existing home sales fall to weakest pace in over a year amid high mortgage rates

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Article discusses economic data and expert commentary on the US housing market, not a core AI development.
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COVERAGE [1]

  1. SCMP — Tech TIER_1 English(EN) · Bloomberg ·

    US existing home sales hit weakest pace in over a year

    Sales of previously owned homes in the United States slowed last month to their weakest pace in more than a year, as would-be buyers waited for relief on mortgage rates before purchasing. Contract closings slipped 2 per cent to an annualised rate of 3.98 million in August, data r…

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