Overview

• Existing home sales increased by 1.3% in July, ending a four-month decline.
• New home sales surged 10.6%, reaching their highest level since May 2023.
• The median price for existing homes rose 4.2% year-over-year to $422,600.
• Inventory of homes for sale grew by 19.8% compared to last year.
• First-time buyers made up 29% of home sales, slightly down from last year.