US Home Price Appreciation Slows At Fastest Pace Since 2014
The United States housing market is skating on thin ice.
With mortgage rates topping 5% and home sales declining, the Case-Schiller housing index recorded the weakest month in August since December 2016.
Home sales in the month declined 5.49%. This is the biggest drop since the 5.90% drop YoY in December 2016.
For the U.S. economy, this is a big hit since housing accounts for a large percentage of the jobs.
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