US home sales weaken to slowest pace in more than a year as mortgage rates, home prices climb
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By ALEX VEIGA, AP Business Writer
Sales of previously occupied U.S. 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.
Existing home sales fell 2% last month from July to a seasonally adjusted annual rate of 3.98 million units, the National Association of Realtors said Thursday. This is the third straight monthly decline.
Sales also fell 1.2% compared with August last year. The latest sales tally is just
Sales of previously occupied U.S. 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.
Existing home sales fell 2% last month from July to a seasonally adjusted annual rate of 3.98 million units, the National Association of Realtors said Thursday. This is the third straight monthly decline.
Sales also fell 1.2% compared with August last year. The latest sales tally is just
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