US home sales cool, mortgage rates still high

By Agence France-Presse

Aug 24, 2023 12:05 am

The housing market in the world's biggest economy has been reeling as interest rates climbed, making homeowners reluctant to put their properties up for sale ― having earlier locked in lower rates on their mortgages.

Existing home sales edged down 2.2 percent last month to an annual rate of 4.1 million, seasonally adjusted, said the National Association of Realtors (NAR).

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