New-home sales decline as rising mortgage rates sap demand

New-home sales decline as rising mortgage rates sap demand

By Jordan Yadoo | Bloomberg
Sales of new US homes fell in September, resuming a downtrend as decades-high mortgage rates push would-be buyers out of the market.
Purchases of new single-family homes decreased 10.9% to a 603,000 annualized pace following an unexpected gain in August, government data showed Wednesday. The median estimate in a Bloomberg survey of economists called for a 580,000…

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