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Home-Price Growth Slows Under Tide of Rising Mortgage Rates
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U.S. home-price growth slowed sharply in the third quarter, the National Association of Realtors said Thursday, as home-buying affordability remained near its lowest level in decades.
Nationwide, the median sales price of an existing single-family home last quarter was up 8.6% from a year earlier to $398,500, according to NAR, a slowdown from the second quarter’s 14.2% pace.
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