July Existing Home Sales

July Existing Home Sales
Updated: 21-Aug-25 10:22 ETHighlights

Existing home sales increased 2.0% month-over-month in July to a seasonally adjusted annual rate of 4.01 million (Briefing.com consensus 3.92 million) from an unrevised 3.93 million in June.
Sales were up 0.8% on a year-over-year basis.

Key Factors

The median existing home sales price for all housing types increased 0.2% year-over-year to $422,400, marking the twenty-fifth consecutive month of year-over-year increases.
The median price for single-family homes rose 0.3% to $428,500. Existing home sales month-over-month/year-over-year across regions: Northeast (+8.7%/+2.0%); Midwest (-1.1%/+1.1%); South (+2.2%/+2.2%); and West (+1.4%/-4.0%).
Median home prices by region year-over-year: Northeast (+0.8% to $509,300); Midwest (+3.9% to $333,800); South (-0.6% to $367,400); and West (-1.4% to $620,700).
The inventory of homes for sale at the end of July was 1.55 million units, up 0.6% from June and up 15.7% from a year ago.
Unsold inventory sits at a 4.6-month supply at the current sales pace, down from 4.7 months in June and up from 4.0 months a year ago. This remains below the 6.0-month supply typically associated with a more balanced market.
First-time buyers accounted for 28% of transactions in July, down from 30% in June and 29% a year ago.
All-cash sales made up 31% of transactions in July, up from 29% in June and 27% a year ago.

Big Picture

The key takeaway from the report is that a moderation in selling prices, coupled with an increase in inventory (the highest since May 2020), helped boost sales despite the persistence of higher mortgage rates.