US New Home Sales Fall in September
Sales of new US single-family homes dipped in September as rising mortgage rates weighed on housing demand. The median new house price also dropped compared to the previous year.
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Sales of new single-family homes in the United States fell 0.6% to an annualized rate of 676,000 units in September. The decline partially reversed the prior month's jump amid surging borrowing costs. Elevated mortgage rates continue to pressure the housing market as affordability concerns mount for buyers.
