(AOF) – In the United States, sales of existing homes stood at 5.41 million on an annual basis in May, said the National Association of Realtors. They fell less than expected, economists expecting 5.39 million after 5.61 million in April. The US real estate market is suffering from the sharp rise in real estate interest rates. The rate for a 30-year loan recently reached 5.78%, the highest since 2008.
The median price of an older home rose 14.8% in May from a year earlier to $407,600, setting a record for data dating back to 1999.
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