US existing home sales fall 1.7pc in July

(Sharecast News) - US existing‑home sales dipped in July, with the National Association of Realtors reporting a 1.7% month‑on‑month decline, though activity was 0.7% higher than a year earlier at an annualised 4.06m units. Total inventory stood at 1.54m homes, down 1.9% from June and 0.6% from July 2025, leaving supply unchanged at 4.6 months, while the median existing‑home price rose 2% year‑on‑year to $434,100, marking the 37th consecutive month of annual price gains.

The housing affordability index improved to 103.3, up from 98.3 a year earlier, with affordability rising across all regions.

Single‑family sales fell 1.9% on the month to 3.69m annualised, though they were 0.8% higher year‑on‑year, while condo and co‑op sales were unchanged at 370,000.

Regionally, the Northeast saw a 2.0% monthly rise in sales, while the Midwest slipped 2%, the South fell 3.1%, and the West was unchanged. Year‑on‑year, sales were flat in the Northeast and South, up 2.1% in the Midwest and 1.4% in the West. Prices increased across all regions, led by a 5.2% rise in the Northeast.

"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%."





Reporting by Iain Gilbert at Sharecast.com