NewsABC Action News (WFTS) — NewsAugust 11, 2026Hillsborough
U.S. existing home sales drop 1.7% in July as record prices and high mortgage rates persist
Existing home sales fell to a seasonally adjusted annual rate of 4.06 million units in July, a 1.7% decline from June, as high borrowing costs and record-high home prices continue to limit market activity. The National Association of Realtors reports that median home prices reached $434,100, marking 37 consecutive months of annual price increases.
Read the full story at ABC Action News (WFTS) — NewsWhy It Matters
Prospective homebuyers face a combination of record-high median prices and 30-year fixed mortgage rates reaching 6.69%, making home ownership increasingly difficult for those without existing equity.
Key Facts
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Who's Mentioned
organizationFactSet“Financial data firm that provided economist expectations for home sales.”organizationNational Association of Realtors“The industry trade group that tracks and publishes U.S. existing home sales data”organizationHigh Frequency Economics“The firm where Carl Weinberg serves as chief economist.”personCarl Weinberg“Chief economist at High Frequency Economics who commented on housing market inve”organizationFreddie Mac“The mortgage buyer that tracks benchmark 30-year fixed mortgage rates.”