After five consecutive months of gains, U.S. home sales dipped slightly in July, falling 0.7% below June's total. Compared to July 2024, sales were up 0.6%, but homes took longer to sell—averaging 44 days on the market, up from 37 days a year ago and three days longer than June, according to data from the 52 metro areas surveyed.
The Median Sales Price in July was $450,000, down 1.1% from June – a typical seasonal trend. Year-over-year, prices were 2.3% higher.
Inventory also saw a slight month-over-month decline of 0.8% but was 27.7% higher than July 2024. A 2.5% drop in new listings contributed to the monthly decrease, though new listings were still 4.4% above last year's levels.
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