WASHINGTON – Existing home sales fell 3.5% in July to a seasonally-adjusted 4.67 million, the lowest level since November, the National Association of Realtors reported Thursday.
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Sales for June were revised higher to 4.84 million from 4.77 million reported last month.
The median sales price dropped to $174,000 from $175,600 in June. The median price is down 4.4% from a year ago.
The supply of existing homes for sale increased to 9.4 months in July, rising for the fourth straight month and the highest since November. The supply was 9.2 months in June.
