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Existing-home sales slide, thanks to soaring prices

from Realtor.com

As home prices continued their climb, the number of existing-home sales continued to decline, indicating that buyers may be reaching their limits. In June, prices of these previously lived-in abodes hit another all-time high of a median $276,900, according to the most recent National Association of Realtors® report. That was up 4.45 percent from May and 5.2 percent from June 2017. Combine those price increases with rising mortgage rates, and that makes it hard for many would-be buyers to get into the market or trade up into larger homes. more


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