US Home Sales Increase in July Amid Slowing Price Growth
TL;DR
In July, existing home sales increased by 2% to 4.01 million units, with prices reaching a record high for July at $422,400, amid rising inventory levels and a potential market inflection point where affordability improvements are boosting sales. The market shows signs of slowing price growth, longer selling times, and increased investor and cash buyer activity, influenced by higher mortgage rates and changing supply dynamics.
Topics:top-newsreal-estate#home-sales#housing-prices#inventory#market-inflection#mortgage-rates#real-estate
- July home sales rise as prices approach inflection point CNBC
- US home sales rose in July as mortgage rates eased a bit and home prices grew more slowly ABC News
- US Existing-Home Sales Rise as Price Growth Simmers Down Bloomberg.com
- Home Sales Rise Modestly in July in Summer Boost for the Housing Market Realtor.com
- US existing home sales tick up unexpectedly in July Yahoo Finance
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