Braking Down The News

U.S. Home Prices Hit Record of $416,000 in June as Sales Continued to Slide

The housing market and construction have cooled as higher interest rates start to bite


The U.S. housing market is rapidly cooling as record prices and rising mortgage rates weigh on home sales, locking out potential buyers.

Slower activity in the housing market, halting a torrid stretch of sales induced by the pandemic, is another sign of a slowing economy, economists said, adding to risks of a recession.


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