Existing home sales in the US fell to a three-month low in July, and high housing prices and mortgage interest rates continued to put pressure on the real estate market. According to data from the National Association of Realtors, contract turnover in July fell 1.7% month-on-month, equivalent to 4.06 million units per year. The median sales price rose 2% year over year to 434,100 US dollars, the highest sales price in July on record.

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