New US Home Sales Jump to Highest Level Since September [Yahoo! Finance]
Apple Inc. (AAPL)
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Source: Yahoo! Finance
Most Read from Bloomberg Ray Dalio's Famous Trade Is Sputtering, Investors Bailing Apple's China iPhone Sales Dive 19% in Worst Quarter Since 2020 Trump Has Only $6.8 Million for Legal Fees With Trial Underway Zimbabwe's ZiG Wipes Out 330% Stocks Rally Elon Musk's Robotaxi Dreams Plunge Tesla Into Chaos New single-family home sales increased 8.8% to a 693,000 annual pace last month, the fastest since September, government data showed Tuesday. Economists surveyed by Bloomberg gave a median estimate of 668,000. The figures indicate that sales have somewhat stabilized in recent months, though the data are volatile. Underlying demand remains strong, but buyers are still constrained by high mortgage rates and prices, which are limiting the extent to which the housing market can gain momentum. Inflation has proved stubborn in recent months, calling into question not only when the Federal Reserve will cut interest rates in 2024, but if it will at all. Mortgage rates above 7%
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