US Existing Home Sales Rise 2% to 4.01M in July

Existing-home sales in the U.S. increased modestly in July 2025, reaching a seasonally adjusted annual rate of 4.01 million, driven by improving affordability and a slight decline in mortgage rates. Housing inventory rose 15.7 percent year-over-year to 1.55 million units, marking the highest supply level since May 2020 and creating more choices for buyers. This increased inventory contributed to slower growth in median home prices, which edged up only 0.2 percent year-over-year to $422,400, with some regions experiencing price reductions. Single-family home sales rose 2 percent month-over-month, while condominium sales increased 2.8 percent, though condo prices declined 1.2 percent annually. Economists note wage growth is now outpacing home price growth, making the market slightly more favorable for buyers. These trends suggest a gradual cooling in the housing market with increased supply and affordability balancing demand.