The National Association of REALTORS® released its July existing-home sales report in mid-August, and the headline number was a modest decline — sales slipped roughly 1.7% from June. But the more useful story is underneath the headline, and it’s a more encouraging one than a single negative number suggests.
Three numbers worth knowing
First, sales were still slightly ahead of where they were a year ago. A month-over-month dip against a year-over-year gain generally describes a market that is grinding forward rather than falling back.
Second, supply held steady. Reported inventory sat in the neighborhood of 1.5 million units nationally, translating to roughly a four-and-a-half-month supply — essentially unchanged from the prior month and from a year earlier. Historically, that range sits between a clear seller’s market and a clear buyer’s market, which is consistent with what many agents have been describing all year: a market that has found some equilibrium.
Third, prices kept rising, but gently. The national median existing-home price came in around $434,000, up about 2% year over year and extending a long streak of annual increases. Two percent is a very different environment from the double-digit years — it’s appreciation without the frenzy.
Regional detail mattered too, with month-over-month movement varying by part of the country. National averages describe the country, not your neighborhood.
What it means if you’re buying
A market with steady supply and slow price growth is a market where preparation pays. You generally have time to see homes more than once, complete real inspections, and negotiate on repairs, closing costs, or rate buydowns. Builder incentives and seller concessions have been a recurring feature of this year’s market. The buyers doing best are the ones who are fully pre-approved and clear on their monthly number — not just their purchase price.
What it means if you’re selling
Homes are still selling, and prices are still rising nationally — but buyers have choices and are using them. Pricing to genuine, recent comparables from the start remains the single biggest driver of outcome. Condition and presentation carry more weight than they did in the rush years, and flexibility on terms can be worth more to a buyer than a small price cut.
This is general educational information about market conditions, not financial advice. Your own situation, financing, and timeline should drive your decision.
National headlines, local decisions
Every national report ends at the same place: real estate is local. The median price of an American home tells you almost nothing about what your Houston-area home is worth, or what you can buy in Katy, Cypress, Memorial, or Sugar Land this month. That’s the part we can answer specifically.
Reach out and we’ll put together a current, neighborhood-level picture for your address or your search — no pressure, just real numbers.
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The Audra O’Neal Team | ONTX Realty Partners
Call or Text: 281-972-8200
Email: ONealTeamRocks@gmail.com
Web: http://www.ONealTeamRocks.com
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