Existing-Home Sales Down in July – NMP Skip to main content

Existing-Home Sales Down in July

Aug 24, 2017
The median listing price for homes hit the $299,000 mark this month

Total existing-home dropped by 1.3 percent to a seasonally adjusted annual rate of 5.44 million in July from a downwardly revised 5.51 million in June, according to new data from the National Association of Realtors (NAR). Although last month’s sales were 2.1 percent above a year ago, but is nonetheless the lowest level set for 2017.
 
The median existing-home price for all housing types in July was $258,300, up 6.2 percent from the $243,2000 level in July 2016. July marked the 65th straight month of year-over-year gains.
 
Total housing inventory at the end of July dipped by one 1.0 percent to 1.92 million existing homes available for sale, and is nine percent lower than a year ago (2.11 million). The inventory level has decreased year-over-year for 26 consecutive months. First-time buyers were 33 percent of sales in July, which is up from 32 percent both in June and a year ago.
 
“Buyer interest in most of the country has held up strongly this summer and homes are selling fast, but the negative effect of not enough inventory to choose from and its pressure on overall affordability put the brakes on what should’ve been a higher sales pace,” said NAR Chief Economist Lawrence Yun. “Contract activity has mostly trended downward since February and ultimately put a large dent on closings last month.”
https://www.nar.realtor/topics/existing-home-sales

 
About the author
Published
Aug 24, 2017
Strong Jobs Report Threatens Mortgage Rate Rally

October hiring more than doubled expectations, pushing Treasury yields higher

Nov 06, 2026
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Oct 09, 2026