Homes are under construction in 2024 near Las Vegas, with a view of the Spring Mountains. Home sales dropped 16% in the area in August, and plunging sales have led to unemployment claims by construction workers. (Photo by Tim Henderson/Stateline)

Home sales closings dropped in August and remain well below pre-pandemic levels as high prices and interest rates weighed on the market, according to an analysis this week by the Calculated Risk blog.

Home sales are on track for the worst year in decades, matching the 4 million annual sales in 1995, according to a separate realtor.com report Sept. 25.

Closed sales were down 1.8% nationally compared with August 2024, with the largest decreases in Las Vegas (down 16%), San Diego, California (down 10%), Grand Rapids, Michigan (down 9.5%), and Jack

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