Summer has brought sunshine, high temperatures, and renewed activity in the real estate market. Home sales rose in July compared to the previous month and were 5.5% higher than July of last year—marking the first year-over-year increase since late 2024. Fewer new listings in July pushed the sales-to-new listings ratio up to 46%. While total sales for the year remain below previous levels, the resulting moderation in home prices is creating new opportunities for buyers to enter the market. Recent announcements from the banks may be signaling the early stages of an exciting fall market.
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