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Home Sales Rise as Inventory Surges and Prices Cut

8/1/2025

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Summary

Story summary

Housing inventory increased by nearly 20% year-over-year in May, leading to a 3.5% sales rise from April.
In June, over 26% of listings experienced price cuts, the highest for that month since 2018, signaling a cooling market.
The average 30-year fixed mortgage rate stands at 6.625%, affecting home affordability.
In many markets, renting is now more affordable than buying, influencing housing demand.

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Story summary

Housing inventory increased by nearly 20% year-over-year in May, leading to a 3.5% sales rise from April.
In June, over 26% of listings experienced price cuts, the highest for that month since 2018, signaling a cooling market.
The average 30-year fixed mortgage rate stands at 6.625%, affecting home affordability.
In many markets, renting is now more affordable than buying, influencing housing demand.