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
PHOTO: LAURA MCDERMOTT FOR THE WALL STREET JOURNAL

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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https://www.wsj.com/articles/existing-home-sales-prices-housing-market-july-2022-11660774574

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