| Consensus | Consensus Range | Actual | Previous | Revised | |
| Annual Rate | 4.050M | 3.880M to 4.150M | 4.06M | 4.09M | 4.13M |
| Month over Month | -1.7% | -2.4% | -1.4% | ||
| Year over Year | 0.7% | 2.8% |
Highlights
Against the backdrop of higher mortgage rates, U.S. sales of existing homes fell a further 1.7 percent to 4.06 million in July, a slightly better showing than the 4.05 million consensus forecast in an Econoday survey. July’s rate is 0.7 percent higher than a year earlier.
The average 30-year fixed-rate mortgage rose to 6.54 percent in July from 6.49 percent in June according to Freddie Mac."There’s no doubt that the housing market would be thriving if average mortgage rates were to return near 6%,” NAR said.
The monthly sales decrease was led by declines of 3.1 percent in the South and 2.0 percent in the Midwest, while sales rose 2.0 percent in the Northeast and were unchanged in the West. On a 12-month basis, sales were either unchanged or higher across regions.
Sales of single-family houses were down 1.9 percent on the month to 3.69 million, but increased 0.8 percent from July 2025 despite a 1.9 percent year-over-year median home price increase to $440,300.
The overall median sales price rose 2.0 percent year-over-year to $434,100.
The inventory of new houses for sale decreased 1.9 percent from June to 1.54 million units. The months’ supply was unchanged at 4.6 months.
Market Consensus Before Announcement
Forecasters expect home sales lower at a depressed 4.05 million unit rate in July versus 4.09 million in June.
Definition
Existing home sales tally the number of previously constructed homes, condominiums and co-ops in which a sale closed during the month. Existing homes (also known as home resales) account for a larger share of the market than new homes and indicate housing market trends.
Description
This provides a gauge of not only the demand for housing, but the economic momentum. People have to be feeling pretty comfortable and confident in their own financial position to buy a house. Furthermore, this narrow piece of data has a powerful multiplier effect through the economy, and therefore across the markets and your investments. By tracking economic data such as home resales, investors can gain specific investment ideas as well as broad guidance for managing a portfolio.
Even though home resales don't always create new output, once the home is sold, it generates revenues for the realtor. It brings a myriad of consumption opportunities for the buyer.
Refrigerators, washers, dryers and furniture are just a few items home buyers might purchase. The economic"ripple effect" can be substantial especially when you think a hundred thousand new households around the country are doing this every month. Since the economic backdrop is the most pervasive influence on financial markets, home resales have a direct bearing on stocks, bonds and commodities. In a more specific sense, trends in the existing home sales data carry valuable clues for the stocks of home builders, mortgage lenders and home furnishings companies.
