According to the National Association of Realtors, U.S. existing-home sales climbed in July 2025, offering a sign that easing affordability pressures and higher inventory are luring more buyers back into the market.
Transactions of previously owned homes increased 2% from June to a seasonally adjusted annual pace of 4.01 million. Compared with a year earlier, sales edged up 0.8%.
The regional picture was mixed: purchases advanced in the Northeast, South and West, while slipping in the Midwest. On an annual basis, sales rose in every region except the West.
Lawrence Yun
“An ever-so-slight improvement in housing affordability is inching up home sales,” said Lawrence Yun, NAR’s chief economist. “Wage growth is now comfortably outpacing home price growth, and buyers have more choices.”
The number of homes on the market rose to 1.55 million, the highest since May 2020, and up nearly 16% from a year earlier. That represents a 4.6-month supply at the current sales pace.
The national median sales price ticked up 0.2% from a year earlier to $422,400, marking the 25th straight annual increase but underscoring a near-flat trajectory that Yun said reflects price cuts in much of the country. Single-family home prices rose modestly to $428,500, while condo prices slipped 1.2% to $362,600.
Foreclosures and short sales accounted for just 2% of transactions — near a historic low — as most homeowners remain in strong financial positions. Since mid-2019, the typical U.S. homeowner has seen property values climb nearly 50%, Yun noted.
“Homebuyers are in the best position in more than five years to find the right home and negotiate for a better price,” he said.
Regional Breakdown
- South: Sales up 2.2% month-over-month; condo activity boosted demand. Median price down 0.6% to $367,400 — the only regional decline.
- Northeast: Sales jumped 8.7%; median price up 0.8% to $509,300.
- Midwest: Sales slipped 1.1%; median price rose 3.9% to $333,800.
- West: Sales up 1.4% month-over-month but down 4% year-over-year; median price slid 1.4% to $620,700.
