Sales of new homes in the U.S. rose modestly in August as rising prices continue to sideline potential buyers.
Sales of existing homes in Wisconsin are outpacing last year’s record purchases, but experts say the lack of inventory has tapped down the hot market.
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Average long-term mortgage rates rose slightly this week continuing a months-long trend of little movement.
Rising costs and shortages of building materials and labor are rippling across the homebuilding industry, delaying construction and prompting many builders to pump the brakes on how many homes they put up for sale.
Sales of previously occupied U.S. homes fell in August and the pace of price growth eased, the latest sign the housing market is cooling as intense competition leave many would-be buyers on the sidelines.
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