US home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market

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Home prices increased on an annual basis for the 13th consecutive month. The national median sales price rose 4.2% from a year earlier to $422,600. That translates to a 4-month supply at the current sales pace, up from 3.3-month pace at the end of July last year. Traditionally, a 5- to 6-month supply is considered a balanced market between buyers and sellers.

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