US Home Sales Show Signs of Recovery in July.
Existing and new home sales rise as mortgage rates decline, easing affordability concerns.
- 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.
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