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US December home sales fall as record-low supply lifts prices

Economists say home affordability will be further crimped by rising mortgage rates in 2018

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House price increases in the US have outpaced wage growth, which has struggled to break above 2.9 per cent since the crippling 2008 recession ended.

Washington

US home sales fell more than expected in December as the supply of houses on the market dropped to a record low, pushing up prices and sidelining some potential first-time buyers.

The decline in home sales reported by the National

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