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LOS ANGELES (AP) — Sales of previously occupied U.S. homes slowed for the sixth consecutive month in July, deepening the housing market’s slowdown from a high-flying pace at the start of this year.
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.
That’s 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.
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