NAR Existing-Home Sales Report shows 1.7% decrease in July

Existing-home sales decreased by 1.7% month over month in July, according to the National Association of REALTORS® (NAR) Existing-Home Sales Report. Still, the reading represented a 0.7% increase year over year. The report provides the real estate ecosystem—including agents, homebuyers, and sellers—with data on the level of home sales, price, and inventory.

“Home sales have been remarkably stable, even amid the rising mortgage rate environment of the past few months,” said NAR Chief Economist Lawrence Yun. “Year-to-date sales are up 2.4%, and there’s no doubt that the housing market would be thriving if average mortgage rates were to return near 6%.”

Month-over-month sales increased in the Northeast, held steady in the West, and declined in the Midwest and South. Year-over-year sales rose in the Midwest and West and were flat in the Northeast and South.

“Though the national data shows stabilization, there are notable local market variations,” Yun said. “In smaller cities, and particularly in the Midwest, an annual household income of $60,000 would be sufficient to buy a median-priced home. Working with an agent who is a REALTOR® will help you better pinpoint what’s happening in your area.”

National snapshot for July

Total existing-home sales

• 0.7% increase year over year to a seasonally adjusted annual rate of 4.06 million
• 1.7% decrease month over month

Inventory

• 1.54 million units (total housing inventory), down 1.9% from June and down 0.6% from July 2025
• 4.6-month supply of unsold inventory, unchanged from last month and one year ago

Median sales price

• $434,100 (for all housing types), a 2.0% increase from one year ago ($425,700)—the 37th consecutive month of year-over-year price increases

Housing affordability

• 6.54%: The average 30-year fixed-rate mortgage in July, according to Freddie Mac, up from 6.49% in June but down from 6.72% one year ago
• The Housing Affordability Index registered at 103.3 in July, up from 98.3 a year ago. Year over year, affordability improved across all regions:
  • Northeast: +1.5%
  • Midwest: +4.0%
  • South: +6.1%
  • West: +7.3%

Single-family and condo/co-op sales

Single-family homes

• $440,300 median home price, up 1.9% from last year
• 1.9% decrease in sales month over month to a seasonally adjusted annual rate of 3.69 million, up 0.8% from July 2025

Condominiums and co-ops

• $371,800 median price, up 2.2% from July 2025
• No change in sales month over month with a seasonally adjusted annual rate of 370,000; unchanged from last year

Regional snapshot for July

Northeast

• $563,800 median price, up 5.2% from July 2025
• 2.0% increase in sales month over month to an annual rate of 500,000, unchanged from July 2025

Midwest

• $342,900 median price, up 2.8% from July 2025
• 2.0% decrease in sales month over month to an annual rate of 970,000, up 2.1% year over year

South

• $371,700 median price, up 0.9% from July 2025
• 3.1% decrease in sales month over month to an annual rate of 1.86 million, unchanged from July 2025

West

• $622,200 median price, up 0.2% from July 2025
• Unchanged in sales month over month at an annual rate of 730,000, up 1.4% year over year

REALTORS® Confidence Index for July

• Median time on market for properties: 29 days, up from 28 days last month and up from 28 days in July 2025
• First-time homebuyers: 29% of sales, down from 33% in June but up from 28% one year ago
• Individual investors or second-home buyers: 14% of transaction, up from 13% last month but down from 20% one year ago
• Cash sales: 26% of transactions, up from 25% last month but down from 31% in July 2025
• Distressed sales (foreclosures and short sales): 2% of sales, unchanged from last month and from one year ago

About the National Association of REALTORS®

The National Association of REALTORS® (NAR) is involved in all aspects of residential and commercial real estate. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics. For free consumer guides about navigating the homebuying and selling transaction processes—from written buyer agreements to negotiating compensation—visit facts.realtor.