US existing homes fall 1.7% in July as record prices, high mortgage rates stifle would be-buyers

US Existing Home Sales Fall As Prices And Mortgage Rates Rise

Sales of previously owned homes in the United States fell 1.7% in July from the previous month, reaching a seasonally adjusted annual rate of 4.06 million units. The decline highlights continued pressure on buyers facing elevated home prices and borrowing costs.According to the report, the median price of an existing home increased 2% from a year earlier to $434,100 in July. 💡At the same time, the average rate on a 30-year fixed mortgage rose t…

Home sales slip in July as prices climb for 37th month

(The Center Square) – U.S. existing-home sales fell 1.7% in July to a seasonally adjusted annual rate of 4.06 million even as prices climbed again, according to the National Association of Realtors.

Mortgage rates hit one-year high at 6.69% as home sales fall

First-time buyers made up just 29% of July sales as inventory fell and mortgage rates priced out buyers, even as existing-home sales edged up.

Sales of Existing Single-Family Homes Sink Deeper into Mud, Supply Jumps to 10-Year High, Condo Supply at 14-Year High

Mortgage rates at 6.69% are not high. Inflation is high.

Home affordability is ‘still a big problem,’ says Zelman's Ivy Zelman

Ivy Zelman, Zelman co-founder and EVP, joins 'The Exchange' to discuss the July existing home sales figures.

Record prices, high mortgage rates stifle would be-buyers

Sales of previously occupied U.S. homes slowed again in July as record prices and the highest mortgage rates in more than a year prove to be an insurmountable hurdle for many prospective homebuyers. The National Association of Realtors said Tuesday…