{"id":435990,"date":"2026-08-11T22:00:21","date_gmt":"2026-08-11T15:00:21","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/us-july-existing-home-sales-4-06m-vs-4-05m-expected-435990\/"},"modified":"2026-08-11T22:00:21","modified_gmt":"2026-08-11T15:00:21","slug":"us-july-existing-home-sales-4-06m-vs-4-05m-expected","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/us-july-existing-home-sales-4-06m-vs-4-05m-expected-435990\/","title":{"rendered":"US July existing home sales 4.06m vs 4.05m expected"},"content":{"rendered":"<div>\n<ul>\n<li><a href=\"https:\/\/investinglive.com\/news\/us-june-existing-home-sales-vs-4-20m-expected\/\" rel=\"follow\">Prior <\/a>was 4.09m (revised to 4.13m)<\/li>\n<li>Sales -1.7% vs -2.4% prior (revised to -1.4%)<\/li>\n<li>Home prices +2.0% y\/y<\/li>\n<li>Median price $434,100<\/li>\n<li>Inventory at 4.6 months vs 4.6 months prior<\/li>\n<\/ul>\n<p>The housing market is in a steady state that isn&#8217;t helped by high mortgage rates due to rising Treasury yields.\u00a0<\/p>\n<\/p>\n<p>There is some steady growth in that chart but when you discount it against CPI, there is a slight-but-steady improvement in affordability. The key question next is what will happen to borrowing rates from here. There is also &#8212; in some sense &#8212; a ticking time bomb in the US housing market as construction hasn&#8217;t kept pace with household formation. So at some point there needs to be a pickup in home construction, though builders may neen the price signal to accelerate for that to happen.<\/p>\n<p>For background, existing-home sales are the largest component of the U.S. housing market and are closely watched for signals on household confidence, affordability, mortgage demand and housing-related spending. The data cover closings of single-family homes, townhomes, condominiums and co-ops, making the series broader and generally less revision-prone than new-home sales, which are based on contract signings.<\/p>\n<p>Through May, the market was showing a modest recovery from the rate-driven weakness that has depressed turnover since 2022. Sales rose 3.2% from April and were also up 3.2% from a year earlier, reaching a seasonally adjusted annual rate of 4.17 million \u2014 the strongest pace since December. Single-family homes drove the improvement, with sales up 3.5% month over month to a 3.80 million annualized pace, while condo and co-op sales were unchanged at 370,000.<\/p>\n<p>Affordability improved somewhat, with NAR\u2019s affordability index rising to 105.6 from 97.5 a year earlier as income growth outpaced home-price gains in many regions. Even so, affordability remains the central constraint on the market. The average 30-year fixed mortgage rate was 6.44% in May, higher than in April but below the 6.82% rate a year earlier.<\/p>\n<p>Inventory is also moving in the right direction, though only gradually. Unsold supply rose 3.3% in May to 1.55 million homes, equivalent to 4.5 months of supply. Despite the increase in listings, prices remain firm: the national median existing-home price rose 1.3% year over year to a May record of $429,300, suggesting that additional supply has yet to produce broad-based price relief. First-time buyers accounted for 35% of sales, while cash buyers held steady at 25%.<\/p>\n<p>                            This article was written by Adam Button at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Prior was 4.09m (revised to 4.13m) Sales -1.7% vs -2.4% prior (revised to -1.4%) Home prices +2.0% y\/y Median price $434,100 Inventory at 4.6 months vs 4.6 months prior The housing market&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-435990","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/435990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=435990"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/435990\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=435990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=435990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=435990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}