Sales Of Existing Homes Slowed Again In July

WASHINGTON (AP) — 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 that existing home sales fell 1.7% last month from June to a seasonally adjusted annual rate of 4.06 million units. July sales, however, were up 0.7% compared with last year. Home prices continued to rise, hitting unprecedented levels for July. The U.S. median sales price increased 2% from a year earlier, to $434,100.