Update: US home sales slowest in more than a year as mortgage rates and prices climb

The Guardian — World has reported on “Update: US home sales slowest in more than a year as mortgage rates and prices climb,” presenting it as the central development in the source material available for this brief.

Housing market has been stymied by borrowing costs, as Iran war pushed mortgage rates higher Sales of previously occupied US homes declined in August to their slowest annual pace in more than a year as home shoppers grappled with rising mortgage rates and home prices. The report also notes that Existing home sales fell 2% last month from July to a seasonally adjusted annual rate of 3.98m units, the National Association of Realtors stated on Thursday. This is the third straight monthly decline.

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