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Decline In Existing Home Sales Leaves First-Time Buyers In The Cold

Existing home sales fell 2% in August to a seasonally adjusted rate of 5.88 million, according to the National Association of Realtors. However, sales were above pre-pandemic levels. The number is based on closings that were likely signed in June and July. According to NAR Chief Economist Lawrence Yun, the housing market is “settling down.”
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