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The housing market continues to send mixed signals:
Nationally, new-home sales strengthened in August, helped by activity at lower price points.
Locally, however, Tucson existing-home sales experienced a late-summer slowdown, with August closings falling 13.5% from July.
At the same time, unemployment claims remain relatively low, although continuing claims suggest hiring conditions may be softer than the headline numbers imply...
Taken together, data points to an economy that is still moving forward, but with consumers and the housing market becoming increasingly sensitive to affordability and employment conditions.
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