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RE/MAX REAL ESTATE NEWS
DENVER – After five consecutive months of gains, U.S. home sales dipped slightly in July, falling 0.7% below June’s total. Compared to July 2024, sales were up 0.6%, but homes took longer to sell—averaging 44 days on the market, up from 37 days a year ago and three days longer than June, according to data from the 52 metro areas surveyed.
The Median Sales Price in July was $450,000, down 1.1% from June – a typical seasonal trend. Year-over-year, prices were 2.3% higher.
Inventory also saw a slight month-over-month decline of 0.8% but was 27.7% higher than July 2024. A 2.5% drop in new listings contributed to the monthly decrease, though new listings were still 4.4% above last year’s levels.
“July’s housing data reflects a market that’s adjusting seasonally,” said REMAX CEO Erik Carlson. “Homes are taking a bit longer to sell, but inventory has remained consistent and prices have held steady. That’s a sign of resilience—and continued opportunity for both buyers and sellers.”
In San Antonio, Texas, one of the top five markets in the report for housing supply, the 5.6-months’ supply of inventory signals a more balanced environment. As the market continues to normalize, local expertise can be even more critical in helping clients navigate pricing and strategy.
“While the number of sales was down and the days on market increased, the average sales price also continued to increase,” said Sara Briseño Gerrish, Broker/Owner of RE/MAX Unlimited in San Antonio. “Now more than ever, it’s crucial to work with an experienced real estate agent who understands the local market dynamics. This will ensure sellers have a comprehensive pricing strategy and buyers are able to leverage that expertise into a strong offer.”
Other metrics of note:
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