The changes were not earth shaking but just the fact there were changes is earth shaking enough. Median home prices declined nationally from $445,000 in June to $439,950 in July a rare occurrence during a peak sales time.
Moreover, the number of homes on the market in July was 36.6% higher than July 2023, a post pandemic high.
However, actual sales remained sluggish as many would-be buyers are clearly hoping the Fed will actually cut interest rates in September.