Sales of previously occupied U.S. homes declined in August to their slowest annual pace in more than a year as home shoppers grappled with rising mortgage rates and home prices.

Home sales slowed again despite the highest supply of homes for sale in over a decade. Prices, however, continue to rise.

US existing home sales dropped to 3.98M in August, down 2% from July, as elevated mortgage rates weigh on buyers despite rising inventory and