Inventory shortages were a factor in a slowdown of existing home sales last month. The decline was driven by the Midwest and the Northeast.

July 2017 saw a preliminary 513,000 existing residential properties sold. That brought sales to 3.204 million during the seven months ended July 31.

The activity that was reported is reflective of the sales of single-family homes, townhomes, condominiums and co-operatives.

Source: Mortgage Daily