Waiting to buy a home? The market just sent its biggest signal yet
The summer housing market looks pretty normal right now, and that’s a good thing. The latest report from Realtor.com shows that the July housing market behaved mostly as expected, with signs of a seasonal home sales slowdown as buyers and sellers navigate the summer months. It’s too early to tell if this summer will dodge a repeat of some of the more troubling trends from a year ago that could…
The summer housing market appears to be following a typical pattern, which is a positive sign. According to the latest report from Realtor.com, July's housing market followed expectations, with moderate signs of a seasonal slowdown in home sales amid the challenges faced by buyers and sellers during the summer. Economist Danielle Hale stated that "July's data show a market that is cooling seasonally, not coming apart," noting that sellers are adjusting prices more frequently as the summer progresses, and buyers are becoming more selective.
However, homes are still securing contracts at a faster rate than last year. The national median home listing was priced at $428,950 in July, down slightly from June and 2.4% from the previous year, marking the ninth consecutive monthly decline in prices. In July, 20% of listings saw a price reduction, a minor decrease of less than one percentage point from the same period in 2025.
Pending sales rose by 1.3% compared to the same period last year, reflecting eight consecutive months of growth. The national median listing remained active for 57 days in July, an increase of four days from the previous month but similar to the previous year when homes stayed on the market for a day longer. Regional trends show varying experiences.
The Northeast's market faced more price cuts, with 13.7% of listings experiencing reductions, compared to 21.9% in the West, 21.3% in the South, and fewer in the Hartford, Buffalo, and New York metro areas. Despite the expected slowdown, inventory levels remain significantly lower than pre-pandemic levels, with current listings still 11.6% below the normal range from 2017 to 2019.
Chief Economist Jake Krimmel warned that the summer test for the market is whether sellers and buyers remain aligned as activity slows. Signs to watch in August include increased price cuts, a drop in pending sales, and sellers retracting their listings, which could signal further problems in the housing market as it adjusts to a new normal.
Written by urgent.news from Fast Company's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
