Home sales in July picked up after 4 months in a market slump
By Lauren Taylor (Anchor/Reporter), Mathew Grisham (Digital Producer), Mirlie Larose (Producer), Jack Henry (Video Editor)
After a four-month slump, sales of previously occupied homes finally picked up in July. Lower mortgage rates and a rising number of homes on the market appear to have encouraged more home shoppers to make a move.
Media Landscape
See who else is reporting on this story and which side of the political spectrum they lean. To read other sources, click on the plus signs below. Learn more about this dataBias Distribution
Left
US home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Associated Press NewsUS home sales ended 4-month slide in July amid easing rates, more homes on the market
Click to see story on abc NewsUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on The Washington PostUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Flin Flon ReminderUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Sask TodayUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Rocky Mountain OutlookUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on SooToday.comUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Prince George CitizenUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on The Seattle TimesUS existing home sales rise more than expected in July
Click to see story on ReutersUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on KIFIJuly home sales break a four-month losing streak as supply rises nearly 20% over last year
Click to see story on CNBCUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on KVIAUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Winnipeg Free PressUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on WPLGUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Chicago TribuneUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on WKMGUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Pioneer PressUS existing home sales rise more than expected in July
Click to see story on WTVBUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on KOB 4Home sales rise for the first time in five months as the number of listings grows
Click to see story on MarketWatchUS home sales ended 4-month downward trend in July amid easing mortgage rates, more homes on market
Click to see story on KRQE News 13Headline Unavailable
Click to see story on Wall Street JournalUS home sales ended 4-month downward trend in July amid easing mortgage rates, more homes on market
Click to see story on WCBDU.S. home sales ended 4-month slide in July
Click to see story on NY1US home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on The ColumbianUS home sales ended 4-month downward trend in July amid easing mortgage rates, more homes on market
Click to see story on BRPROUDUS home sales ended 4-month downward trend in July amid easing mortgage rates, more homes on market
Click to see story on KFOR-TVUS home sales ended 4-month downward trend in July amid easing mortgage rates, more homes on market
Click to see story on Fox8The National Association of Realtors says sales of previously occupied US homes rose in July, ending a four-month slide
Click to see story on ABC FOX MontanaUS home sales ended 4-month downward trend in July amid easing mortgage rates, more homes on market
Click to see story on Wood TVUS home sales ended 4-month downward trend in July amid easing mortgage rates, more homes on market
Click to see story on WHO-DTUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Hartford CourantUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on NewsdayUS home sales ended 4-month downward trend in July amid easing mortgage rates, more homes on market
Click to see story on PHL17US home sales ended 4-month downward trend in July amid easing mortgage rates, more homes on market
Click to see story on WNTZ FOX 48US existing home sales rise in July, ending downward trend
Click to see story on Digital JournalUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on castanet.netHome sales rise more than expected, ending 4-month skid: ‘Definitely seeing more choices’
Click to see story on New York PostExisting home sales rise for first time in five months amid lower mortgage rates – Washington Examiner
Click to see story on Washington ExaminerUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Boston HeraldUS home sales ended a 4-month slide in July
Click to see story on OC RegisterUS July Existing Home Transactions Rebound… Signs of Change in Stagnant Market Due to Increased Inventory
Click to see story on 연합뉴스-Yonhap News AgencyRight
Untracked Bias
Used home sales in the USA rise 1.3% in July
Click to see story on GloboUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Airdrie City ViewUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on My Mother LodeUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Orillia MattersUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Newmarket TodayUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Midland TodayUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Collingwood TodayUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Elora Fergus TodayUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market – The Morning Sun
Click to see story on Morning SunHome sales ended a 4-month slide in July amid easing mortgage rates
Click to see story on The Journal RecordUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Local 3 NewsUS existing home sales rise more than expected in July
Click to see story on ZawyaUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Bradford TodayUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Timmins TodayUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on thealbertan.comUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on nashvilleledger.comUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Western InvestorDespite the news, the increased supply of homes did not help cool home prices. Sales are still down 2.5% from this time last year. Although numbers came in slightly above expectations from economists, the market remains cautious.
Download the SAN app today to stay up-to-date with Unbiased. Straight Facts™.
Point phone camera here
Home prices have been steadily increasing for 13 consecutive months. The national median sales price climbed by 4% from last year, reaching over $400,000 in July.
The National Association of Realtors’ chief economist said while sales are still sluggish, consumers are seeing more options. Affordability is improved thanks to lower mortgage rates, and inventory is on the rise. There were 1.33 million unsold homes at the end of July.
The U.S. housing market has faced some serious challenges since mortgage rates began to climb in 2022. Last year, existing home sales plunged to their lowest level in nearly three decades, with mortgage rates hitting a 23-year high of 7.79%.
But there may be some relief on the horizon for prospective buyers. Mortgage rates have been easing recently, with the average 30-year home loan now sitting at around 6.5%. With inflation showing signs of cooling and signs of a softer job market, there’s speculation that the Federal Reserve may cut its benchmark interest rate for the first time in four years as early as next month.
Lauren Taylor
AFTER A FOUR MONTH SLUMP, SALES OF PREVIOUSLY OCCUPIED HOMES FINALLY PICKED UP IN JULY.
LOWER MORTGAGE RATES AND A rising NUMBER OF HOMES ON THE MARKET APPEAR TO HAVE ENCOURAGED MORE HOME SHOPPERS TO MAKE A MOVE.
However the increased supply did not help to cool home prices.
And SALES ARE STILL DOWN 2 POINT 5 PERCENT FROM THIS TIME LAST YEAR. ALTHOUGH THE NUMBERS CAME IN SLIGHTLY ABOVE EXPECTATIONS FROM ECONOMISTS, THE MARKET REMAINS CAUTIOUS.
HOME PRICES HAVE BEEN STEADILY INCREASING FOR 13 CONSECUTIVE MONTHS. THE NATIONAL MEDIAN SALES PRICE CLIMBED 4 POINT PERCENT FROM LAST YEAR, REACHING MORE THAN $400-THOUSAND IN JULY.
THE NATIONAL ASSOCIATION OF REALTORS’ CHIEF ECONOMIST SAID WHILE SALES ARE STILL SLUGGISH, CONSUMERS ARE SEEING MORE OPTIONS, AND AFFORDABILITY IS IMPROVING THANKS TO LOWER MORTGAGE RATES.
INVENTORY IS ON THE RISE TOO. THERE WERE 1 POINT 33 MILLION UNSOLD HOMES AT THE END OF JULY.
THE U.S. HOUSING MARKET HAS FACED SOME SERIOUS CHALLENGES SINCE MORTGAGE RATES BEGAN CLIMBING IN 2022. IN FACT, LAST YEAR, EXISTING HOME SALES PLUNGED TO THEIR LOWEST LEVEL IN NEARLY THREE DECADES, WITH MORTGAGE RATES HITTING A 23-YEAR HIGH OF 7 POINT 79 PERCENT.
BUT THERE MAY BE RELIEF ON THE HORIZON FOR PROSPECTIVE BUYERS. MORTGAGE RATES HAVE BEEN EASING RECENTLY, WITH THE AVERAGE 30 YEAR HOME LOAN NOW SITTING AT AROUND 6 POINT 5 PERCENT. WITH INFLATION COOLING AND SIGNS OF A SOFTER JOB MARKET, THERE’S SPECULATION THAT THE FEDERAL RESERVE MAY CUT ITS BENCHMARK INTEREST RATE FOR THE FIRST TIME IN FOUR YEARS AS EARLY AS NEXT MONTH.
WE’LL BE KEEPING A CLOSE EYE ON THAT. AND YOU CAN TOO. DOWNLOAD THE STRAIGHT ARROW NEWS APP – AND SIGN UP FOR UPDATES SO YOU NEVER MISS A STORY
Media Landscape
See who else is reporting on this story and which side of the political spectrum they lean. To read other sources, click on the plus signs below. Learn more about this dataBias Distribution
Left
US home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Associated Press NewsUS home sales ended 4-month slide in July amid easing rates, more homes on the market
Click to see story on abc NewsUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on The Washington PostUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Flin Flon ReminderUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Sask TodayUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Rocky Mountain OutlookUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on SooToday.comUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Prince George CitizenUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on The Seattle TimesUS existing home sales rise more than expected in July
Click to see story on ReutersUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on KIFIJuly home sales break a four-month losing streak as supply rises nearly 20% over last year
Click to see story on CNBCUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on KVIAUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Winnipeg Free PressUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on WPLGUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Chicago TribuneUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on WKMGUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Pioneer PressUS existing home sales rise more than expected in July
Click to see story on WTVBUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on KOB 4Home sales rise for the first time in five months as the number of listings grows
Click to see story on MarketWatchUS home sales ended 4-month downward trend in July amid easing mortgage rates, more homes on market
Click to see story on KRQE News 13Headline Unavailable
Click to see story on Wall Street JournalUS home sales ended 4-month downward trend in July amid easing mortgage rates, more homes on market
Click to see story on WCBDU.S. home sales ended 4-month slide in July
Click to see story on NY1US home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on The ColumbianUS home sales ended 4-month downward trend in July amid easing mortgage rates, more homes on market
Click to see story on BRPROUDUS home sales ended 4-month downward trend in July amid easing mortgage rates, more homes on market
Click to see story on KFOR-TVUS home sales ended 4-month downward trend in July amid easing mortgage rates, more homes on market
Click to see story on Fox8The National Association of Realtors says sales of previously occupied US homes rose in July, ending a four-month slide
Click to see story on ABC FOX MontanaUS home sales ended 4-month downward trend in July amid easing mortgage rates, more homes on market
Click to see story on Wood TVUS home sales ended 4-month downward trend in July amid easing mortgage rates, more homes on market
Click to see story on WHO-DTUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Hartford CourantUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on NewsdayUS home sales ended 4-month downward trend in July amid easing mortgage rates, more homes on market
Click to see story on PHL17US home sales ended 4-month downward trend in July amid easing mortgage rates, more homes on market
Click to see story on WNTZ FOX 48US existing home sales rise in July, ending downward trend
Click to see story on Digital JournalUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on castanet.netHome sales rise more than expected, ending 4-month skid: ‘Definitely seeing more choices’
Click to see story on New York PostExisting home sales rise for first time in five months amid lower mortgage rates – Washington Examiner
Click to see story on Washington ExaminerUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Boston HeraldUS home sales ended a 4-month slide in July
Click to see story on OC RegisterUS July Existing Home Transactions Rebound… Signs of Change in Stagnant Market Due to Increased Inventory
Click to see story on 연합뉴스-Yonhap News AgencyRight
Untracked Bias
Used home sales in the USA rise 1.3% in July
Click to see story on GloboUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Airdrie City ViewUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on My Mother LodeUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Orillia MattersUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Newmarket TodayUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Midland TodayUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Collingwood TodayUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Elora Fergus TodayUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market – The Morning Sun
Click to see story on Morning SunHome sales ended a 4-month slide in July amid easing mortgage rates
Click to see story on The Journal RecordUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Local 3 NewsUS existing home sales rise more than expected in July
Click to see story on ZawyaUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Bradford TodayUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Timmins TodayUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on thealbertan.comUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on nashvilleledger.comUS home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
Click to see story on Western InvestorStraight to your inbox.
By entering your email, you agree to the Terms & Conditions and acknowledge the Privacy Policy.
MOST POPULAR
-
New charges filed in former One Direction Singer Liam Payne’s death
Watch 1:532 hrs ago -
UnitedHealthcare CEO murder suspect fights extradition to NY, denied bail in PA
Watch 8:288 hrs ago -
Congress hopeful a DACA deal can be reached during Trump administration
Watch 1:4921 hrs ago -
FBI Director Wray considering resignation before Trump’s inauguration
Watch 2:4221 hrs ago