July Housing Report: Inventory Climbs Nearly 20% Over Year Ago

Active home listings in July rose 19.8% year-over-year to 24,888, with 25 of 27 counties showing inventory growth. Closed sales fell 3.2%, pending sales dropped 7.2%, and the median sales price decreased 1.5% to $640,000. Mortgage rates above 6.5% discouraged buyers. Median prices varied by county, with some increases and decreases. The market shows more seller interest but fewer transactions amid high interest rates and inflation concerns.