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Sales of Previously Owned Homes Fall to an Almost Two-Year Low


“Further sales declines should be expected in the upcoming months given housing affordability challenges from the sharp rise in mortgage rates this year,” Lawrence Yun, NAR’s chief economist, said in a statement. “Nonetheless, homes priced appropriately are selling quickly and inventory levels still need to rise substantially – almost doubling – to cool home price appreciation and provide more options for home buyers.”





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