US Home Sales Increase in July Amid Slowing Price Growth
In July, existing home sales increased by 2% to 4.01 million units, with prices reaching a record high for July at $422,400, amid rising inventory levels and a potential market inflection point where affordability improvements are boosting sales. The market shows signs of slowing price growth, longer selling times, and increased investor and cash buyer activity, influenced by higher mortgage rates and changing supply dynamics.