Sales of existing single-family homes fell by 1.9% in July from June, seasonally adjusted, the second month in a row of declines, to an annual rate of 3.69 million sales, sinking deeper into the mud at the bottom that sales have been in for four years, according to data by the National Association of Realtors today. The national median price of single-family homes inched up year-over-year by 1.9% in July, not seasonally adjusted. Since late 2022, broad inflation and national wage increases have outrun the increases of the national median price of single-family homes, thereby easing very slowly, over many years, the affordability crisis that was caused by the 40% explosion of the national median price in the two years through mid-2022 that had come on top of already high prices.