U.S. existing home sales decline, prices still strong

U.S. home resales fell more than expected in July after four straight months of strong gains, as a lack of inventory limited choice for buyers, but further price rises suggested the housing market remained on solid ground. The slump in sales reported by the National Association of Realtors on Wednesday is likely to be temporary, given that a tightening labor market is steadily pushing up wages and mortgage rates are near historically low levels. Existing home sales declined 3.2 percent to an ann