U.S. existing-home sales fell to a seasonally adjusted annual rate of 4.06 million units in July, the lowest reading in three months and a 1.7% decline from June. The median price climbed 2.0% year-over-year to $434,100, marking the 37th consecutive month of annual price gains. First-time buyers accounted for just 29% of sales, down from 33% in June, while the average 30-year fixed mortgage rate stood at 6.54%. Inventory remained tight at 4.6 months of supply, keeping conditions tilted toward sellers despite sluggish demand.
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