US Existing Home Sales Fall As Prices And Mortgage Rates Rise

Sales of previously owned homes in the United States fell 1.7% in July from the previous month, reaching a seasonally adjusted annual rate of 4.06 million units.

The decline highlights continued pressure on buyers facing elevated home prices and borrowing costs.

According to the report, the median price of an existing home increased 2% from a year earlier to $434,100 in July.

Housing supply also remains relatively tight. The report said about 1.54 million homes were available for sale in July, representing a 4.6-month supply.

While inventory has improved from extremely low levels seen during the pandemic, it remains below the level generally considered a balanced market.

The combination of high prices, mortgage rates and limited supply continues to weigh on housing demand.

Related Tweet:

Home sales slide in July as high mortgage rates, rising prices sideline homebuyers https://t.co/9uVJpqJE4n pic.twitter.com/RYCmdwZukM

— New York Post (@nypost) August 11, 2026

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tippinsightsTIPP Staff