Existing home sales in the United States rose by 2% from the previous month to a seasonally-adjusted annualized rate of 4.01 million in July of 2025, the sharpest increase since February, and above market expectations of a 3.92 million rate. Despite the increase in sales, housing inventory rose by 0.6% from the pervious month to 1.55 million units, which is equivalent to 4.6 months of unsold inventory. Also, median prices of existing home sales inched 0.2% higher from one year ago to $422,400. "The ever-so-slight improvement in housing affordability is inching up home sales," said NAR Chief Economist Lawrence Yun. "Wage growth is now comfortably outpacing home price growth, and buyers have more choices. Condominium sales increased in the South region, where prices had been falling for the past year."