US Existing-Home Sales Fall for Second Consecutive Month in July

On Tuesday, the National Association of Realtors (NAR) reported that total existing-home sales—completed transactions for single-family homes, townhomes, condominiums, and co-ops—fell 1.7% in July to a seasonally adjusted annual rate (SAAR) of 4.06 million. Year-over-year, sales were up 0.7%.

Sales rose in the Northeast, held steady in the West, and fell in the Midwest and South. Compared with a year ago, sales were higher in the Midwest and West and unchanged in the Northeast and South.

Total housing inventory at the end of July was 1.54 million units, down 1.9% from June and 0.6% from July 2025. At the current sales pace, unsold inventory sits at a 4.6-month supply, unchanged from June and a year earlier.

The median existing-home price for all housing types was $434,100 in July, a 2.0% increase from $425,700 a year ago. This marked the 37th consecutive month of year-over-year price gains.

According to NAR’s monthly REALTORS Confidence Index, properties typically remained on the market for 29 days in July, compared with 28 days in June and 28 days a year earlier.