The number of signed contracts for existing homes in the United States fell for the second consecutive month in July, as high interest rates and high housing prices continue to suppress demand.

According to the Wisdom Financial App, the number of existing home sales contracts in the United States continued to decline for the second consecutive month in July, reflecting that potential buyers are still cautious in the face of high soaring house prices and borrowing costs. The housing market continues to remain in a prolonged downturn with no significant improvement in sight.