Existing home sales continue to slide in Arizona

By Angela Gonzales | Phoenix Business Journal

Existing U.S. home sales slipped 5.4% to an annualized 3.89 million — the lowest level since December 2023 — after falling 0.7% in May, according to the National Association of Realtors.

This is the fourth-straight drop amid high mortgage rates and low affordability, which have undermined home demand, said Jay Hawkins, senior economist for BMO Capital Markets.

Read the full subscription story from the Phoenix Business Journal.

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