U.S. Housing Report: Affordability Improves with Lower Mortgage Rates, but Sales Stall as Prices Remain High
In August, U.S. home sales reached a nearly 13-year low, prompting the Federal Reserve to cut interest rates by 0.50 percentage points on September 18th—the first such reduction since 2020. However, experts suggest this may be too little, too late, as home sales continue to decline despite easing mortgage rates.
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