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US home sales cool as mortgage rates remain high
US home sales cool as mortgage rates remain high
Business and Economy
by  AFP

Sales of homes in the United States ticked down in July, according to industry data released Tuesday, as elevated mortgage rates and limited housing supply held buyers back. Sales of existing homes "likely have further to fall over the rest of the year as higher mortgage rates and a mild recession squeeze demand and keep supply conditions tight," said economist Michael Pearce of Oxford Economics.