Zillow: U.S. home sales slip as mortgage rates stay above 6.5%
Home sales fell 0.6% year-over-year in August after dropping from July, Zillow said. Mortgage rates staying above 6.5% kept buyers on the sidelines. Newly pending listings were down 2.6% year-over-year.
Home sales slipped 0.6% year-over-year in August and also fell sharply from July, Zillow said. Mortgage rates staying above 6.5% kept many buyers on the sidelines. Newly pending listings, a forward-looking gauge of demand, dropped 2.6% from a year earlier, suggesting the slowdown could continue through the…