Pending Sales of Existing Homes Fell in July to Lowest Level Since September 2001

Pending sales of existing homes fell in July to the lowest
level in nearly six years as borrowers struggled to finalize
home purchases, particularly in expensive areas. The
National Association of Realtors said its seasonally
adjusted index of pending home sales for July fell 16.1
percent from a year ago and 12.2 percent from the prior
month.

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