July Home Sales Fell for 6th Straight Month, Says Redfin
Home sales fell 19.3% year on year in July to their lowest level since the start of the COVID-19 pandemic “when the housing market was at a near standstill,” Redfin reported Monday. Home sales were down 4.1% from June, a…
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sixth consecutive monthly decline, Redfin said. Some prospective homebuyers were sidelined by being priced out of the market, and others were wary of future home value decline, it said. Many sellers who did list their homes had to settle for less. Some 21% of sellers dropped their asking price in July, the highest share since at least 2012, Redfin said.