US Home Sales Rise 7% in July as 7.7% Pending Drop Signals Slower Second Half
Updated
Updated · PR Newswire · Aug 6
US Home Sales Rise 7% in July as 7.7% Pending Drop Signals Slower Second Half
3 articles · Updated · PR Newswire · Aug 6
Summary
382,898 homes were sold in July, up 7% from a year earlier—the strongest annual gain of 2026—but down 2.7% from June, according to Zillow's preliminary nowcast.
Newly pending listings rose just 0.3% year over year and fell 7.7% from June, indicating the July sales bump reflected June contracts rather than current demand.
Mortgage rates, around 6.5% when many July deals were signed, climbed to a one-year high after a July oil-price shock, prompting buyers to pause and threatening affordability.
Inventory reached 1.41 million homes, up 1.5% from a year earlier, while new listings rose 3.1%, extending a 32-month streak of supply gains.
Zillow said the typical home value was $371,757 and the monthly payment $1,888 in July, warning higher August rates could push payments above year-ago levels and leave sales flat or falling in some regions.