US Housing Market Shows Seasonal Slowdown in July

US Housing Market Shows Seasonal Slowdown in July

US: The US housing market continued its expected seasonal slowdown in July 2026, with sellers making more price reductions while buyer activity remained positive. The national median listing price stood at USD 428,950 in July, unchanged from June but 2.4% lower than a year earlier, marking the ninth consecutive month of annual price declines. The proportion of listings with reduced prices increased to 20%, while pending home sales rose 1.3% year-on-year, extending growth for the eighth consecutive month despite slower momentum than in May and June.

The median time homes remained on the market increased to 57 days, four days longer than in June but one day shorter than the same month last year, marking the first annual improvement after 26 consecutive months of longer selling times. "July's data show a market that is cooling seasonally, not coming apart," said Danielle Hale, chief economist, Realtor.com. "Sellers are making more price adjustments as summer progresses, and buyers are responding more selectively, but homes are still going under contract at a faster pace than last year. The key question for the months ahead is whether price reductions help sustain buyer engagement or signal that sellers are getting ahead of softer demand."

Source: HBS Dealer