Existing Home Sales Notch 4th Straight Annual Gain Despite July Slip to 4.06M

July 2026 existing-home sales

Existing home sales slowed 1.7% to 4.06M as the June pace was revised roughly 1% higher (4.09M to 4.13M), consistent with a pattern we’ve seen each month in 2026. Sales surpassed the weaker July 2025 sales pace as mortgage rates remained largely steady at a higher level in late May and June, when these closed sales likely entered contract. This marks a 4-month streak of year-over-year gains and keeps existing-home sales within a rounding error of our 4.10 million expected annual total, roughly in the middle of the 4.0 to 4.2 million range we’ve seen so far this year.

NAR’s pending home sales slipped in June from both the prior month (5.4%) and prior year (0.3%) after notching 4 consecutive monthly gains and 2 annual gains in May. Realtor.com July pending data notched another month of gains, but the pace of growth cooled notably, suggesting that the upward pressure in mortgage rates and softening consumer confidence are weighing on households and home sales.

Nationwide, months supply remained in the balanced market range, tying June’s 4.6 months and also matching July 2025. Realtor.com data show that inventory gains slowed in June, a pattern that continued into July, and for the first time in several months, new listings did not exceed their prior year pace. Flat new listings suggest hesitance among some potential sellers which will keep softer housing demand from tipping the scales too far in favor of buyers. Entry-level buyers made up a smaller share of sales, with just 29% going to first-time buyers, compared to 33% in June. Nonetheless, the share of first-time buyers was slightly higher than in 2025 as affordability improved nationwide and across all 4 regions. 

The Realtor.com 2026-Q2 Market Clock Report showed that while the national market may be balanced, there is strikingly wide regional variation in buyer-seller dynamics, a phenomenon underscored by the Hottest ZIP Codes report that shows the most competitive markets continue to be concentrated in the Northeast and Midwest. In these fast-moving markets, above-asking price sales are still the norm, even as the typical home nationwide sells for just shy of the listing price.

Home Prices Rose Modestly

The median home sales price rose 2.0% nationally from the prior year to $434,100, even as it slipped from June’s seasonal peak ($442,800, slightly higher than initially reported). Regional variation continues, mirroring the regional trends we see in Hottest ZIPs and the Market Clock report. Price growth was strongest in the Northeast (+5.2%) and Midwest (+2.8%), and weaker in the South (+0.9%) and West (+0.2%), but all four regions posted growth in July. The typical U.S. asking price has been softer in 2026 according to Realtor.com data, notching a seventh consecutive month of decline in June.