Washington, DC, US Capital Hill in the US Capital Hill A “signs” a “for sale” on Tuesday, August 12, 2025.
Al Drago | Bloomberg | Getty images
According to the National Association of Realters, the sales of home -owned houses increased by 2% in July, on a seasonal adjusted, on annual basis, on an annual basis. Housing analysts were expected to decline slightly. Sales were 0.8% higher than July 2024.
These sales are closing and counted, so there is a possibility of contacts signed in May and June, when the average rate on a 30-year fixed mortgage was in a decline. According to the mortgage news Daily, the rate exceeded 7% in May and then ended at 6.67% on June.
There were 1.55 million houses for sale at the end of July, with an increase of 15.7% from this month last year. At the current sales speed, which represents a supply of 4.6 months. The 6 -month supply between the buyer and the seller is considered balanced.
The inventory is now at the highest level since May 2020, but still the pre-covid is below years.
More inventory is clearly shutting down prices. The average price of an existing house sold in July was $ 422,400, an increase of 0.2% from the same month and a record high price for the month of July. Prices have been higher annually for the last 25 months, but the market can now be at a divisive point.
NAR Chief Economist Lawrence Yun said, “Sometimes better improvement in the affordable housing is increasing house sales.” “Increase in wages is now beating the increase in the price of the house comfortably, and buyers have more options.”
Yun said that there was an increase in sales of condominium in the south, where prices have been falling since the last one year.
The activity at the high end of the market remains the strongest. The sales of houses priced more than $ 1 million grew by 7.1% year -on -year, while the sale price fell 0.1% between $ 100,000 and $ 250,000. The sales of houses priced below $ 100,000 fell 8%.
Now it is taking longer to sell homes. The average house was sold in 28 days in July, which was above 24 days a year ago. The buyers also fell slightly for the first time, 28% of the sales, below 30% in June and 29% in July 2024.
Investors created 20% of all transactions from 13% in July 2024. This may be due to an increase in supply.
Still relatively high with mortgage rates, the share of all-cash buyers increased by 27% to 31% of the transaction a year ago.
“This is unusually more,” said, the stock market can contribute to the market money or housing money.
