Existing-Homes Sales Up 2.5 Percent

Aug 21, 2019

Total existing-home sales during July totaled a seasonally adjusted rate of 5.42 million, up 2.5 percent from the previous month and up 0.6 percent from one year earlier, according to new data from the National Association of Realtors (NAR).

The median existing-home price for all housing types in July was $280,800, up 4.3 percent from the $269,300 price set one year earlier. July’s price increase marked the 89th straight month of year-over-year gains.

While sales and prices were up, the total housing inventory fell last month to 1.89 million, down from the 1.92 million level set in the previous month and the previous year. The unsold inventory level was at a 4.2-month supply and properties typically remained on the market for 29 days.

Also last month, first-time buyers were responsible for 32 percent of sales, down from 35 percent in June but matching the same level in July 2018. Individual investors or second-homebuyers were responsible for 11 percent of home sales last month, while all-cash sales were at the core of 19 percent of transactions. Distressed sales represented only two percent of sales, with less than one percent pegged to short sales.

“Falling mortgage rates are improving housing affordability and nudging buyers into the market,” said Lawrence Yun, NAR’s chief economist. “The shortage of lower-priced homes have markedly pushed up home prices.”

Total existing-home sales during July totaled a seasonally adjusted rate of 5.42 million, up 2.5 percent from the previous month and up 0.6 percent from one year earlier

About the author

Phil Hall

Link copied

Published

Aug 21, 2019

Industry News

Newfi And Addy AI Announce Partnership

Newfi and Addy AI today announced a collaboration focused on the continued evolution of artificial intelligence in mortgage lending

Newfi and Addy AI today announced a collaboration focused on the continued evolution of artificial intelligence in mortgage lending.Newfi has built innovative lending products and a modern approach to the mortgage market. As the industry evolves, the company continues to exp...

Analysis and Data

Smaller Down Payments Give Buyers More Room, But Rates Limit The Savings

The typical down payment fell 9% from a year ago, while shifting market conditions are giving originators different affordability conversations across the country

Homebuyers are putting less money down than they were a year ago, another sign that increased inventory and greater negotiating room are changing the purchase market.The typical down payment fell to $27,100 in the second quarter of 2026, the lowest second-quarter dollar amou...

Nov

Houston, TX

More from

Industry News

CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Industry News

Sep 23, 2026

Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Industry News

Sep 23, 2026

Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

C-Suite Strategies

Sep 23, 2026

Fannie Changes How Rent From A Former Home Counts

Fannie now prohibits leases for departing residences and permits market-analysis tools instead of Form 1007, creating a key documentation difference from Freddie Mac

Regulation and Compliance

Sep 22, 2026

MPF Expands Eligibility For Manufactured And Renovation Loans

The Mortgage Partnership Finance Program has expanded MPF Traditional eligibility for affordable loans, manufactured homes, renovations, and lender-funded assistance

Industry News

Sep 22, 2026