US Home Sales Slowest in More Than a Year as Mortgage Rates and Prices Climb Existing US home sales have reached their lowest pace in over a year, according to the National Association of Realtors, with mortgage rates continuing to rise and home prices showing no signs of abating.
This perfect storm of increasing costs has left potential homebuyers frozen out of the market, struggling between soaring prices and ever higher borrowing costs.
The decline in home sales is not solely a result of rising mortgage rates but also reflects broader economic trends shaping the housing market over years.