New home sales tumble to lowest level since 2016
New home sales tumble to lowest level since 2016
(NewsNation) — U.S. homes sales tumbled to the lowest level in over six years due to higher mortgage rates and current home prices. The Department of Housing and Urban Development says single-family home purchases plunged 12.6% in July and some 511,000 houses were sold across the country, which is down from 585,000 in the month of June.
On a year-over-year basis, sales dropped around 29% compared…
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