U.S. existing home sales fall again

U.S. existing home sales in July declined by 1.7%, reaching an annual rate of 4.06 million units. The recovery is expected to remain limited due to rising mortgage interest rates, which have increased by 71 basis points since the start of the Middle East conflict, with an average rate of 6.69%, the highest level since July 2025. The rise in interest rates has discouraged some homeowners from selling, exacerbating the supply shortage crisis. Home prices increased by 2.0% year-over-year to $434,100, while the current supply of homes is expected to last 4.6 months. It is also anticipated that stabilizing interest rates near 6% will improve the U.S. housing market.

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