Mortgage rates and home prices are climbing. This has led to a decline in sales of previously occupied homes. The National Association of Realtors reported a 2% drop from the previous month.

Sales have been declining for three straight months. Compared to the same time last year, sales are down 1.2%. Economists had expected sales to be slightly higher.

Further information on the current state of home sales is available from the National Association of Realtors.