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US home sales fell again in July as housing slowdown deepens
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FILE - A "sold" is posted outside a single family home in a residential neighborhood, in Glenside, Pa., Wednesday, Aug. 4, 2021. Sales of previously occupied U.S. homes slowed for the fifth consecutive month in June 2022 as higher mortgage rates and rising prices kept many home hunters on the sidelines. The National Association of Realtors said Wednesday, July 20, that existing home sales fell 5.4% last month from May to a seasonally adjusted annual rate of 5.12 million. - photo by AP Photo/Matt Rourke, File
LOS ANGELES (AP) — Sales of previously occupied U.S. homes slowed for the sixth consecutive month in July, deepening the housing market’s slide under the weight of sharply higher mortgage rates, surging inflation and slower, but still solidly rising home prices. The National Association of Realtors said Thursday that existing home sales fell 5.9% last month from June to a seasonally adjusted annual rate of 4.81 million. That’s lower than what economists were expecting, according to FactSet.