U.S. housing market sees sellers outnumber buyers as sales dip and rates hover near a year‑high

Existing‑home sales fell 1.7% in July, bringing the seasonally adjusted annual pace to 4.06 million units, while the median price rose to $434,100 after a June peak of $442,800. The 30‑year fixed mortgage rate hovered at 6.69%, the highest level in over a year, before slipping slightly to 6.67% the following week. Active homebuyers numbered about 967,000 in July, the lowest figure recorded since tracking began, and sellers outnumbered buyers nationwide as inventory contracted to 1.54 million homes, a 4.6‑month supply. Slower job growth and weaker wage gains are adding to affordability pressures for prospective buyers.