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Axios
Axios
Business

U.S. home sales declined for seventh month in a row

Data: FactSet; Chart: Axios Visuals

Sales of existing homes fell for the seventh straight month in August, as sharply higher mortgage rates slammed the brakes on buying activity.

Driving the news: Numbers published yesterday by the National Association of Realtors showed existing home sales (as opposed to new construction) slipping to an annualized rate of 4.8 million last month.

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