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'Punch in the gut': Homes sales fall to their lowest in 16 years November 12, 20261:44 PM ET

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Stephan Bisaha

Home sales fell to their lowest since 2010, a new report shows, in large part due to high mortgage rates. Mario Tama/Getty Images hide caption

Mario Tama/Getty Images

The housing market has finally broken out of the stagnant holding pattern it's been stuck in for more than four years – just not in the right direction.

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