Existing‑home sales in the US fell 1.7% MoM in July to a 4.06 mln annualized
pace, a three‑month low and in line with the median economist forecast, the
National Association of Realtors said. The report said persistently high listing
prices and rising mortgage borrowing costs continue to deter buyers. The resale
market has hovered around a roughly 4.0 mln annualized pace since late‑2022. NAR
chief economist Lawrence Yun said sales have been very steady and that if
average mortgage rates returned near 6% the market would undoubtedly boom.
