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The iconic Porsche brand is officially going public despite stomach-churning stock market turbulence that's frozen out other big deals.

Volkswagen (VLKAF) first started looking at spinning off the high-performance automaker in February, just as Russia's invasion of Ukraine jolted investors.
In a statement late on Monday, Volkswagen said it had decided to press ahead with the initial public offering later this month or in early October, "subject to further capital market developments."

Porsche plans blockbuster IPO in the coming weeks The iconic Porsche brand is officially going public despite stomach-churning stock market turbulence that's frozen out other big deals.

Home sales declined for the sixth month in a row in July as higher mortgage rates and prices push prospective buyers out of the market.

Nevertheless, home prices continued to climb by double-digit percentages during the month. The median home price was $403,800 in July, up 10.8% from a year ago but slightly lower than the record high reached last month, according to a report from the National Association of Realtors. The price increase marks more than a decade of year-over-year monthly gains.

Home sales fell for the sixth month in a row, but prices kept rising Home sales declined for the sixth month in a row in July as higher mortgage rates and prices push prospective buyers out of the market.