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flag Home sales dropped in September due to higher mortgage rates and affordability issues, reversing summer gains.

flag Home sales in the local area dropped sharply in September, reversing a summer rebound, according to new data. flag Analysts attribute the decline to rising mortgage rates and ongoing affordability challenges, which have cooled buyer demand. flag While inventory levels remain low, the number of transactions fell compared to both August and the same month last year, signaling a potential shift in the housing market’s momentum.

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