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    HomeNewsBusinessUS home sales fell again in July as housing slowdown deepens

    US home sales fell again in July as housing slowdown deepens

    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. Thats lower than what economists were expecting, according to FactSet.

    Associated Press
    August 18, 2022 / 20:10 IST
    A "For Rent, For Sale" sign is seen outside of a home in Washington, U.S., July 7, 2022. REUTERS/Sarah Silbiger/File Photo

    Sales of previously occupied U.S. homes slowed for the sixth consecutive month in July, deepening the housing markets 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. Thats lower than what economists were expecting, according to FactSet.

    Sales fell 20.2% from July last year. Sales have now fallen to the slowest pace since May 2020, near the start of the pandemic.

    The national median home price jumped 10.8% in July from a year earlier to $403,800.

    Associated Press
    first published: Aug 18, 2022 08:10 pm

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