U.S. Home-Sales Report for July Comes as Housing Market Cools
The National Association of Realtors’ July report on existing-home sales will cap a week of figures that so far have pointed to a slowdown in the housing market.
NAR will release July home-sales data at 10 a.m. ET Thursday.
The housing market has been rapidly losing steam as the Federal Reserve’s aggressive path of interest-rate increases pushes up the cost of taking out a mortgage. Fed officials have enacted two rate increases of three-quarters of a percentage point each in the past three months to cool inflation, which stood at 8.5% in July, down from 9.1%...