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The Economic Times

Economy / The Economic Times

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US pending home sales slump in June amid affordability challenges

June witnessed a significant decline in contracts for previously owned homes, which fell beyond expectations due to soaring mortgage rates and increasing house prices that sidelined many buyers. The pending home sales index showed a stark 5.4% decrease, impacting all four regions of the country. This trend reflects a sluggish housing market, creating hurdles for first-time buyers eager to enter the market.

16 Jul 2026 9:39 pm