After sliding back in June, existing-home sales picked up in July. The latest update, released August 21, shows a modest rebound.
Sales rose 2.0% to a seasonally adjusted annual rate of 4.01 million are now 0.8% higher than a year ago.
As has been and continues to be the case, zooming out on the same chart puts things in the most accurate perspective for the home resale market. Sales levels have hovered near 75% of pre-pandemic norms for three years now.
NAR’s Chief Economist Lawrence Yun noted that slightly better affordability and stronger wage growth are giving sales a lift, with buyers also benefiting from more choices in the market. He added that many areas are seeing near-flat price growth, with some regions experiencing outright price declines. Even so, homeowners remain in a strong position, with a cumulative 49% increase in typical home values since mid-2019. Distressed sales remain at historic lows, and inventory has climbed to its highest level since May 2020, offering buyers their best negotiating position in years.
Regional Breakdown (Sales and Prices, July 2025)
| Region | Sales (annual rate) | MoM Change | Median Price | YoY Change |
|---|---|---|---|---|
| Northeast | 500k | +8.7% | $509,300 | +0.8% |
| Midwest | 940k | -1.1% | $333,800 | +3.9% |
| South | 1.805m | +2.2% | $367,400 | -0.6% |
| West | 720k | +1.4% | $620,700 | -1.4% |
National Market Stats
- Total Housing Inventory: 1.55 million units (up 0.6% from June; up 15.7% YoY)
- Unsold Inventory Supply: 4.6 months (down from 4.7 in June; up from 4.0 a year ago)
- Median Existing-Home Price: $422,400 (up 0.2% YoY)
- Typical Time on Market: 28 days (up from 27 last month; up from 24 a year ago)
- First-Time Home Buyer Share: 28% (down from 30% in June)
- Cash Sales Share: 31% (up from 29%)
- Investor/Second-Home Buyer Share: 20% (up from 14%)
- Distressed Sales Share: 2% (down from 3% in June)
