In August, the sales pace of new homes slowed down, according to data published on Wednesday by the U.S. Census Bureau. This is after a boost in July. The inventory of unsold new homes is at its highest since December.

Some experts are attributing the slower sales pace to higher interest rates and concerns about the economy. At the current sales pace, it would take about 8.1 months to sell the inventory of unsold homes. This is up from 7.5 months in July.

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