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US existing home sales fall as prices hit record

Posted on AllSides June 21st, 2024
From The Right

Existing home sales in the United States edged lower in May as prices reached a record high on continued tight inventory, according to industry data published on Friday. Sales of previously owned homes fell by 0.7 percent from a month earlier to a seasonally adjusted annual rate of 4.11 million, the National Association of Realtors (NAR) said in a statement. This was slightly above market expectations, according to “Existing home sales edged lower in May, reflecting the backup in mortgage rates a month or two earlier,” Oxford Economics lead...

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