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“Sales” Sign outside the house in Capitol Hill Neighborhood Washington, DC, USA, on Tuesday, 12. August 2025.
Al Drago Bloomberg | Getti images
Sales previously owned by homes increased by 2% in July compared to June to 4.01 million units, at a seasonally adapted, annual basis, in accordance with the National Realtor Association. Housing analysts expected a slight decline. The sale was 0.8% higher than July 2024. years.
These sales are calculated by closing, so contacts are probably signed in May and June, when the average rate of a 30-year fixed mortgage was declining. That rate briefly exceeded 7% in May, and then ended June to 6.67%, according to mortgage news per day.
There were 1.55 million homes for sale at the end of July, an increase of 15.7% from the same month last year. At the current salespoint, it represents a 4.6 month supply. Six-month supply is considered balanced between the buyer and the seller.
The inventory is now at the highest level of 20. May 2020. But it is still significantly below the present years.
The more list is obvious to download prices from the price. The media price of the existing house sold in July was $ 422,400, an increase of 0.2% of the same month earlier and recorded a high price for July for July. Prices are more previously annually, but the market can now be in the entry point.
“Always a slight improvement of housing accessibility has been volumes for sale of home house,” said Lawrence IUN, Narokov Chief Economist. “The growth of salaries now comfortably scattered price growth in home prices and customers have more choices.”
Yun noted that the sale of condominium increased in the south, where prices fall in last year.
The activity is still the strongest to the higher end of the market. The sale of homes price over a million dollars increased by 7.1% of the year, while sales of price between 100,000 and $ 250,000 refused 0.1%. The sale of homes price below $ 100,000 has fallen 8%.
It takes longer for homes to sell. The average home in July was sold in 28 days, more than 24 days before it was before. Customers who first light and represent the representation of 28% sales, up to 30% in June and 29% in July 2024. Years.
Investors accounted for 20% of all transactions, more than 13% in July 2024. It could be a consequence of an increase in the offer.
Using a mortgage rate remain relatively high, the share of all cash customers increased to 31% transactions with 27% before it is before.
“This is unusually high,” Yun said, the noted market exchanges or housing wealth could contribute to factors.
