The number of sales of existing US homes dropped again for the sixth straight month in July, leading an industry economist to declare a 'housing recession' even though prices remain near record highs.Higher mortgage rates and have all weakened demand from homebuyers and led to declining sales, yet tight inventory has kept home prices growing, though at a slower rate. National Association of Realtors said Thursday that home sales fell 5.9 percent last month from June to a seasonally adjusted annual rate of 4.81 million -- a decline of 20.2 percent from one year ago.
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