Existing-home sales fell 1.7% in July to 4.06 million, marking a second consecutive monthly decline amid rising mortgage rates, which reached 6.69%, the highest since July 2025. Inventory dropped 1.9% to 1.54 million units, maintaining a 4.6-month supply. The median home price rose 2.0% to $434,100. First-time buyers made up 29% of sales, below the healthy 40% benchmark.