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Higher Property Prices to Negatively Affect Credit Offtake

Andrew Brunton
Higher Property Prices to Negatively Affect Credit Offtake

In its monthly report, the NAR (National Association of Realtors) revealed that existing home sales were unchanged in August. This followed four consecutive months of decline as consumers continued to postpone their plans to buy homes amid higher house prices. The falling existing home sales market is affecting the US mortgage industry.