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U.S. Home-Sales Report for July Comes as Housing Market Cools

Posted on AllSides August 18th, 2022
From The Center
housing and homelessness, mortgage rates, supply

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%...

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