US EditionUS existing home sales dip to 9-month low on high costs
UNITED STATES, JUL 24 – High mortgage rates near 6.7% and rising prices to a record $435,300 are limiting sales despite a 15.9% increase in housing supply, causing deals to fall through, NAR said.
- On July 23, 2025 in Washington, D.C., the National Association of Realtors said existing-home sales decreased 2.7% in June to a seasonally adjusted annual rate of 3.93 million units.
- High mortgage rates have added hundreds of dollars to monthly payments, and the national median home price hit $435,300, reflecting a market slump since early 2022.
- June’s available supply translated to a 4.7-month stock of homes, properties lingered 27 days on average, and first-time buyers made up just 30% of sales, said the National Association of Realtors.
- High-End properties outpaced budget segments with divergent trends, as the National Association of Realtors said, cash transactions accounted for 29% of sales last month, and sales of homes over $1 million rose 14% while those under $100,000 fell 5%.
- Mortgage-Rate shifts could reshape sales, Dr. Lawrence Yun said, and a drop to 6% could add about 160,000 first-time homeowners.
Insights by Ground AI
Does this summary seem wrong?
45 Articles
45 Articles
Oxford Economics says the crumbling housing market will continue deteriorating because of two key factors
The housing market continues to struggle with nearly high mortgage rates and home prices, driven by years of undersupply and slow home construction. Builders face higher costs and labor shortages, and home price growth is expected to slow this year as sellers pull homes off the market. If you thought the housing market was bad enough: Buckle up. Mortgage rates are still nearly 7% and home prices are 55% higher than they were at the beginning of…
·New York, United States
Read Full Article
Coverage Details
Total News Sources45
Leaning Left9Leaning Right6Center15Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 30%
C 50%
R 20%
Factuality
To view factuality data please Upgrade to Premium
