Real estateUpdated 2h ago

U.S. existing-home sales hit a 16-year low.

Last month, sales of previously owned homes in the US fell to their lowest level since 2010. Bloomberg says concerns about mortgage rates and inflation deterred would-be buyers; the Financial Times says higher borrowing costs weighed on transactions. The slowdown has both a buyer side and a deal side: some people are being put off before they buy, while financing costs are pressing on the transactions themselves.

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