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US home sales slump for 11th month, slammed by mortgage rates
US home sales slump for 11th month, slammed by mortgage rates
Business and Economy
by  AFP

Sales of existing homes in the United States have fallen for the 11th straight month, as a rough period of limited inventory and high mortgage rates persists, according to industry data released Friday. "December was another difficult month for buyers, who continue to face limited inventory and high mortgage rates," said NAR chief economist Lawrence Yun in a statement.