The pace of existing home sales cooled as temperatures heated up in July. According to data released Tuesday by the National Association of Realtors’ (NAR), existing homes sold at a seasonally adjusted annual rate of 4.06 million homes in July, down 1.7% from June, but up 0.7% compared to a year ago. Regionally, existing home sales were up month-over-month in the Northeast (+2.0%), down in the Midwest (-2.0%) and the South (-3.1%) and unchanged in the West. In addition to existing home sales data, NAR also released its Housing Affordability Index which came in at a reading of 103.3, up from 98.3 a year ago. HousingWire Data shows that single-family existing home sales may be on the rise in August after the slower pace in July.