Interest rates, declining affordability stifle new home sales

Econ & Housing

istock.com/Paulbr WASHINGTON — In a further sign of a housing slowdown, new home sales posted a double-digit percentage decline in April, falling to their weakest pace in two years, as rising mortgage interest rates and worsening affordability conditions continue to take a toll on the housing market. Sales of newly built, single-family homes in April…

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