NAR Existing-Home Sales Report Exhibits 2.0% Increase in July

WASHINGTON (August 21, 2025) – Existing-home gross sales elevated by 2.0% in July, in response to the National Association of REALTORS® Existing-Home Sales Report. The Report offers the actual property ecosystem, together with brokers and homebuyers and sellers, with knowledge on the extent of residence gross sales, worth, and stock.

Month-over-month gross sales elevated within the Northeast, South, and West, and fell within the Midwest. Year-over-year, gross sales rose within the South, Northeast, and Midwest, and fell within the West.

“The ever-so-slight improvement in housing affordability is inching up home sales,” stated NAR Chief Economist Lawrence Yun. “Wage growth is now comfortably outpacing home price growth, and buyers have more choices. Condominium sales increased in the South region, where prices had been falling for the past year.”

“Near-zero growth in home prices suggests that roughly half the country is experiencing price reductions. Overall, homeowners are doing well financially. Only 2% of sales were foreclosures or short sales – essentially a historic low. The market’s health is supported by a cumulative 49% home price appreciation for a typical American homeowner from pre-COVID July 2019 to July this year,” Dr. Yun continued.

“Homebuyers are in the best position in more than five years to find the right home and negotiate for a better price. Current inventory is at its highest since May 2020, during the COVID lockdown.”

National Snapshot

• 2.0% improve in whole existing-home gross sales¹ month-over-month to a seasonally adjusted annual price of 4.01 million.
• 0.8% improve in gross sales year-over-year.

Inventory in July

• 1.55 million models: Total housing stock² , up 0.6% from June and elevated 15.7% from July 2024 (1.34 million).
• 4.6-month provide of unsold stock, down from 4.7 months in June and up from 4 months in July 2024.

Median Sales Price in July

• $422,400: Median existing-home worth³ for all housing varieties, up 0.2% from one 12 months in the past ($421,400) – the twenty fifth consecutive month of year-over-year worth will increase.

Single-Family and Condo/Co-op Sales

Single-Family Homes in July

• 2.0% improve in gross sales to a seasonally adjusted annual price of three.64 million, up 1.1% from July 2024.
• $428,500: Median residence worth in July, up 0.3% from final 12 months.

Condominiums and Co-ops in July

• 2.8% improve in gross sales month-over-month to a seasonally adjusted annual price of 370,000 models, down 2.6% year-over-year.
• $362,600: Median worth, down 1.2% from July 2024.

Regional Snapshot for Existing-Home Sales in July

Northeast

• 8.7% improve in gross sales month-over-month to an annual price of 500,000, up 2.0% year-over-year.
• $509,300: Median worth, up 0.8% from July 2024.

Midwest

• 1.1% lower in gross sales month-over-month to an annual price of 940,000, up 1.1% year-over-year.
• $333,800: Median worth, up 3.9% from July 2024.

South

• 2.2% improve in gross sales month-over-month to an annual price of 1.85 million, up 2.2% year-over-year.
• $367,400: Median worth, down 0.6% from July 2024.

West

• 1.4% improve in gross sales month-over-month to an annual price of 720,000, down 4.0% year-over-year.
• $620,700: Median worth, down 1.4% from July 2024.

REALTORS® Confidence Index for July

• 28 days: Median time on marketplace for properties, up from 27 days final month and 24 days in July 2024.
• 28% of gross sales had been first-time homebuyers, down from 30% in June and 29% in July 2024.
• 31% of transactions had been money gross sales, up from 29% a month in the past and 27% in July 2024.
• 20% of transactions had been particular person traders or second-home patrons, up from 14% final month and 13% in July 2024.
• 2% of gross sales had been distressed gross sales⁴ (foreclosures and brief gross sales), down barely from 3% in June and up barely from 1% in July 2024.

Mortgage Rates

About the National Association of REALTORS®

The National Association of REALTORS® is concerned in all facets of residential and industrial actual property. The time period REALTOR® is a registered collective membership mark that identifies an actual property skilled who’s a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics. For free client guides about navigating the homebuying and promoting transaction processes – from written purchaser agreements to negotiating compensation – go to facts.realtor.

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For native data, please contact the native affiliation of REALTORS® for knowledge from native a number of itemizing providers (MLS). Local MLS knowledge is probably the most correct supply of gross sales and worth data in particular areas, though there could also be variations in reporting methodology.

NOTE: NAR’s Pending Home Sales Index for July might be launched August 28, and Existing-Home Sales for August might be launched September 23. Release instances are 10 a.m. Eastern. See NAR’s statistical information launch schedule.

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¹  Existing-home gross sales, which embrace single-family, townhomes, condominiums and co-ops, are primarily based on transaction closings from Multiple Listing Services. Changes in gross sales tendencies exterior of MLSs are usually not captured within the month-to-month collection. NAR benchmarks residence gross sales periodically utilizing different sources to evaluate general residence gross sales tendencies, together with gross sales not reported by MLSs.

Existing-home gross sales, primarily based on closings, differ from the U.S. Census Bureau’s collection on new single-family residence gross sales, that are primarily based on contracts or the acceptance of a deposit. Because of those variations, it’s not unusual for every collection to maneuver in numerous instructions in the identical month. In addition, existing-home gross sales, which account for greater than 90% of whole residence gross sales, are primarily based on a a lot bigger knowledge pattern – about 40% of a number of itemizing service knowledge every month – and sometimes are usually not topic to massive prior-month revisions.

The annual price for a specific month represents what the entire variety of precise gross sales for a 12 months could be if the relative tempo for that month had been maintained for 12 consecutive months. Seasonally adjusted annual charges are utilized in reporting month-to-month knowledge to issue out differences due to the season in resale exercise. For instance, residence gross sales quantity is generally larger in the summertime than within the winter, primarily due to variations within the climate and household shopping for patterns. However, seasonal components can not compensate for irregular climate patterns.

Single-family knowledge assortment started month-to-month in 1968, whereas condominium knowledge assortment started quarterly in 1981; the collection had been mixed in 1999 when month-to-month assortment of condominium knowledge started. Prior to this era, single-family houses accounted for greater than 9 out of 10 purchases. Historic comparisons for whole residence gross sales previous to 1999 are primarily based on month-to-month single-family gross sales, mixed with the corresponding quarterly gross sales price for condos.

² Total stock and month’s provide knowledge can be found again by way of 1999, whereas single-family stock and month’s provide can be found again to 1982 (previous to 1999, single-family gross sales accounted for greater than 90% of transactions and condos had been measured solely on a quarterly foundation).

³ The median worth is the place half bought for extra and half bought for much less; medians are extra typical of market situations than common costs, that are skewed larger by a comparatively small share of upper-end transactions. The solely legitimate comparisons for median costs are with the identical interval a 12 months earlier resulting from seasonality in shopping for patterns. Month-to-month comparisons don’t compensate for seasonal adjustments, particularly for the timing of household shopping for patterns. Changes within the composition of gross sales can distort median worth knowledge. Year-ago median and imply costs generally are revised in an automatic course of if extra knowledge is obtained.

The nationwide median condominium/co-op worth usually is larger than the median single-family residence worth as a result of condos are concentrated in higher-cost housing markets. However, in a given space, single-family houses sometimes promote for greater than condos as seen in NAR’s quarterly metro space worth experiences.

⁴ Distressed gross sales (foreclosures and brief gross sales), days on market, first-time patrons, all-cash transactions and traders are from a month-to-month survey for the NAR’s REALTORS® Confidence Index, posted at nar.realtor.