Existing home sales drop in August to lowest level since 2020

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U.S. existing home sales slowed for the seventh straight month in August as rising mortgage rates, surging inflation and steep home prices continued to push prospective buyers out of the market. Sales of previously owned homes tumbled 0.4% in August from the previous month to an annual rate of 4.80 million units, according to new data released Wednesday by the National Association of Realtors. Th...

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