Home Sales Tumbled In July for the Longest Slump Since 2013
WASHINGTON—Sales of previously owned homes in July continued their longest downward slide in five years, as rising home prices and higher mortgage rates price more potential buyers out of the market.
Existing-home sales fell 0.7% in July from June to a seasonally adjusted annual rate of 5.34 million units, the National Association of Realtors said Wednesday. That marked the fourth straight month of declines.
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