July home sales rise as prices approach inflection point
On Tuesday, August 12, 2025, Washington, DC is a “for sale” out of a house in the US Capitol Hill neighborhood.
AL DRAGO | Bloomberg | Getty Images
According to the National Real Estate Association, the sales of previously owned houses were seasonally adjusted in June in June, seasonally set to 4.01 million, and rose to 4.01 million annually. Housing analysts were waiting for a slight decrease. Sales were 0.8% higher than July 2024.
These sales are counted with closing, so the people signed in May and June, when the average rate of 30 years of fixed mortgage falls. According to Mortgage News Daily, this rate exceeded 7% in May and then ended in June with 6.67%.
At the end of July, there were 1.55 million houses for sale, there was an increase of 15.7% compared to the same month last year. At the current sales rate, this represents a 4.6 -month supply. A 6 -month supply is considered balanced between buyer and seller.
The inventory is now at the highest level since May 2020, but still far below the years before the avoidance.
More inventory is clearly receiving pressure. The average price of an existing house sold in July was $ 422,400. Prices have been higher every year for the last 25 months, but the market can now be at a point of bending.
“The usual good recovery in housing purchasability is increasing home sales,” Nar’s chief economist, Nar’s chief economist, increases home sales. He said. “Wage growth now leaves home price growth easily and buyers have more options.”
Yun, coat ownership sales last year in the south, where prices fell, he said.
The activity at the top end of the market continues to be the most powerful. Priched over $ 1 million increased by 7.1% from year to year, while sales prices fell by 0.1% to $ 250,000. The house sales of less than $ 100,000 fell by 8%.
Now it takes longer to sell houses. In July, an average house was sold within 28 days from 24 days in the previous year. For the first time, buyers fell slightly and represented 28% of sales in June at 30% and 29% in July 2024.
Investors made up 20% of all transactions from 13% in July 2024. This may be due to the increase in supply.
When mortgage rates were still relatively high, the share of all cash receivers increased from 27% to 31% of transactions compared to the previous year.
“This is unusual, Yun said Yun said the stock market reserve or residence.
