U.S. existing-home sales fell 1.7% in July to 4.06 million, slightly above expectations and 0.7% higher than last year. The median home price rose 2% to $434,100, highlighting affordability challenges amid elevated mortgage rates, which reached 6.66%. Sales varied regionally, with increases in the Northeast and declines in the Midwest and South. A drop in borrowing costs could boost demand and support the housing market.
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