US existing home sales fall 1.7% in July, second straight monthly decline
Macro
U.S. existing home sales fell for a second straight month in July, dropping 1.7% to a seasonally adjusted annual rate of 4.06 million units, the National Association of Realtors reported. Economists polled by Reuters had forecast a rate of 4.05 million units. The decline reflected contracts signed in May and June when mortgage rates resumed their upward trend, with the average 30-year fixed-rate mortgage reaching 6.69% last week, the highest since July 2025. Inventory decreased 1.9% to 1.54 million units, and the median existing home price rose 2.0% from a year ago to $434,100.
