July 2025
U.S. existing-home sales fell 2.7% from the previous month to a seasonally adjusted
annual rate of 3.93 million, according to the National Association of REALTORS®
(NAR). Sales were unchanged from one year earlier. Regionally, monthly sales
declined in the Midwest, Northeast, and South but rose in the West. Year-over-year,
sales decreased in the Northeast and West but increased in the South and Midwest.
New Listings were up 23.8 percent to 1,816. Pending Sales increased 13.9 percent
to 1,315. Inventory grew 38.5 percent to 3,490 units.
Prices moved higher as Median Sales Price was up 2.5 percent to $283,000. Days
on Market held steady at 44. Months Supply of Inventory was up 30.4 percent to 3.0
months, indicating that supply increased relative to demand.
Nationally, the median existing-home sales price rose 2.0% year-over-year to
$435,300, a new monthly high and the 24th consecutive month of annual price
gains, according to NAR. Slower sales activity has contributed to rising inventory
this year, with 1.53 million properties listed for sale heading into July, a 15.9%
increase from the same time last year and equivalent to a 4.7-month supply at the
current sales pace.
Information courtesy of CMLS*
