by Sales fell 1.7% from June, amid ongoing price pressures that marked the 37th consecutive month of year-over-year increases
WASHINGTON — Existing home sales edged up slightly compared with July 2025 but so did median home prices, which puts further pressure on buyers to afford a home not to mention other expenses including furniture.
The National Association of Realtors announced Wednesday that home sales rose .7% from July 2025 to a seasonally adjusted rate of 4.06 million. Year-over-year sales rose in the Midwest and West and were level in the Northeast and South.
By comparison, sales fell 1.7% from June, declining in the Midwest and South, while rising in the Northeast and remaining steady in the West, the NAR said.
“Home sales have been remarkably stable, even amid the rising mortgage rate environment of the past few months,” said NAR Chief Economist Lawrence Yun in a statement. “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%.”
Citing finance company Freddie Mac, the NAR reported that the average 30-year fixed rate mortgage in July was 6.54%, which was down from 6.72% a year ago, although up slightly from June.
Thus, affordability remains an issue, as the median price of $434,100 was up 2% from $425,700 in July 2025, while also marking the 37th consecutive month of year-over-year increases. While this is good news for homeowners with a long history of ownership, it makes it challenging for buyers, including those getting into the market for the first time, while also facing the reality of buying things such as furniture and appliances for their homes.
However, the NAR also said that based on its housing affordability index, year-over-year affordability improved across all regions as follows:
+ The Northeast: +1.5%
+ The Midwest: +4.0%
+ The South: +6.1%
+ And the West: +7.3%
In July, single-family homes represented the bulk of the overall sales at 3.69 million, or nearly 91% of the total. This was up .8% from July 2025 and down 1.9% from June. The median single-family home price was $440,300, up 1.9% from last year.
Condominium and co-op sales totaled 370,000, unchanged from July 2025 and June. The median sales price was $371,800, up 2.2% from July 2025.
The inventory of existing homes totaled 1.54 million units, down .6% from July 2025 and down 1.9% from June. The NAR said this represents a 4.6-month supply of unsold inventory, unchanged from last year and from June.
By region, sales activity was as follows according to the report:
In the Northeast, existing home sales totaled 500,000, unchanged from July 2025 and up 2% from June. The median price in the region was $563,800, up 5.2% from July 2025.
In the Midwest, sales totaled 970,000, up 2.1% from July 2025 and down 2% from June. The median price in the region was $342,900, up 2.8% from July 2025.
In the South, sales totaled 1.86 million, unchanged from July of last year and down 3.1% from June. The median price in the region was $371,700, up .9% from July 2025.
In the West, sales totaled 730,000, up 1.4% from July 2025 and unchanged from June. The median price was $622,200, up .2% from July 2025.
Other highlights of the report were as follows:
+ The median time on market in July was 29 days, up from 28 days in July 2025 and in June.
+ First-time homebuyers accounted for 29% of sales, up from 28% in July 2025 and down from 33% in June.
+ Cash sales represented 26% of transactions, down from 31% a year ago and up from 25% in June.
+ Individual investors or second-home buyers accounted for 14% of transactions, down from 20% in July 2025 and up from 13% in June.
+ Distressed sales (foreclosures and short sales) represented 2% of transactions, unchanged from July 2025 and from June.
