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via marketwatch.comEconomy

Home sales plunge to lowest since the Great Recession as buyers flee the market

FROM THE WIRE · MARKETWATCH.COM

Home sales fell in October to a 16-year low as buyers bolted from the housing market in the face of 7% mortgage rates.

Read at the source ↗
MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishWeak housing demand with mortgage rates near 7% weighs on the housing sector and rate expectations.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Home sales in October fell to a 16-year low.
  2. 02Buyers pulled back in the face of 7% mortgage rates.
  3. 03The decline concerns the US housing market.

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Breaking live stories come from third-party newswires via feed; headline and summary belong to the stated source. Impact analysis: UCapital AI · News Impact.

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