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flag U.S. new home sales dropped to a three-and-a-half-year low in January due to high mortgage rates and prices.

flag New home sales in the United States fell to a near three-and-a-half-year low in January, marking the slowest pace since early 2022. flag The decline follows a period of rising mortgage rates and elevated home prices, which have made housing less affordable. flag Economists attribute the drop to tighter financial conditions and reduced buyer demand, signaling potential challenges for the housing market in the near term.

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