Contracts to buy previously owned homes fell for the seventh straight month in July, according to data released on Wednesday by the National Association of Realtors.
NAR said its pending home sales index, which measures signed contracts for homes where transactions have not yet closed, fell 0.7% to a reading of 106.2 after rising by a revised 1.0% in the previous month.
Economists had forecast pending home sales rising 0.3% last month.
