Daily Newsletter: Wednesday July 23, 2025

Delivered to over 70,000+ industry professionals
each day, the Daily Newsletter is the definitive recap of the day’s most
relevant mortgage and real estate news and data. View the latest Newsletter below.

Two months ago, existing home sales hit a five-month low. Last month’s report showed a minor rebound. This month’s update, released July 23, shows a return to weakness. Sales declined 2.7% in June to a seasonally adjusted annual rate of 3.93 million. That leaves activity just above the recent low and still 25% below long-term norms. Year-over-year, sales were unchanged nationally. As has been and continues to be the case, zooming out on the same chart results in an entirely different impression of the home resale market. Sales levels have hovered near 75% of pre-pandemic norms for three years now. “The record high median home price highlights how American homeowners’ wealth continues to grow—a benefit of homeownership,” said NAR Chief Economist Lawrence Yun. “High mortgage rates are causing home sales to remain stuck at cyclical lows.” Regional Breakdown (Sales and Prices, June 2025)

Region
Sales (annual rate)
MoM Change
Median Price
YoY Change

Northeast
460,000
-8.0%
$543,300
+4.2%

Midwest
950,000
-4.0%
$337,600
+3.4%

South
1.81 million
-2.2%
$374,500
+0.3%

West
710,000
+1.4%
$636,100
+1.0%