Mortgage rates are falling, improving home buying conditions. Here’s what to know before you act.

Despite being a hallmark of the American Dream, buying a home is less affordable for many these days.

Higher mortgage rates and a shortage of houses on the market relative to demand have kept prices elevated and created a financial crunch for many would-be buyers.

The median sales price for homes rose again in July to $422,600, up 4.2% from a year earlier, according to the National Association of Realtors. Read more here.