2023 SLOWEST YEAR FOR US HOME SALES IN NEARLY 30 YEARS, HIGH MORTGAGE RATES FRUSTRATED BUYERS

LOS ANGELES (AP) — Sales of previously occupied U.S. homes sank in 2023 to a nearly 30-year low as mortgage rates climbed to the highest level in more than two decades and prices hit record highs, pushing homeownership out of reach for many Americans. The National Association of Realtors said Friday that existing U.S. home sales totaled 4.09 million last year, an 18.7% decline from 2022. That is t…