July Housing Inventory Rises as Prices Hold Steady

REMAX reported a broader supply of homes for sale in July, with inventory across 46 surveyed metro areas rising 2.8% from June and 4.7% from a year earlier. The company’s July National Housing Report placed the median sales price at $450,000, unchanged from the prior month and 3.4% higher year over year. Closed transactions fell 5.7% month over month but increased 2.5% from July 2025. The results point to more choice for buyers, while local conditions continued to differ markedly by market.

Supply Expands Across Surveyed Markets

Months’ supply of inventory reached 3.0 in July, compared with 2.7 in June and 2.9 a year earlier. Homes sold during the month spent an average of 45 days on the market, three days longer than in June and one day longer than in July 2025.

New listings rose 1.4% year over year across the 46 metro areas, despite falling 2.7% from June. Anchorage posted the largest annual increase in new listings, up 21.6%, followed by St. Louis at 12.3% and Indianapolis at 10.7%.

Miami recorded the highest months’ supply among the markets surveyed at 6.2, followed by San Antonio at 6.0 and Houston at 5.2. Hartford had the lowest supply at 0.9 months.

Sales Growth Varied By Metro

While overall closed transactions were higher than a year earlier, the report showed sharply different results between cities. Bozeman posted the largest annual increase in closed transactions at 22.9%, followed by Wichita at 13.4%, Honolulu at 11.9%, Miami at 11.8% and Minneapolis at 11.6%.

Miami completed 6,479 transactions in July, up from 5,796 in the same month last year. The market also recorded 77 average days on market and a 94.4% close-to-list price ratio.

Anthony Askowitz, Broker/Owner of REMAX Advance Realty in Miami, Florida, said:

“This month's data reflects the ever-changing real estate market in Miami. We had more sales in July as buyers found opportunities across a wider range of price points. Sellers are also becoming savvier and understand that they need to price appropriately if they don't want their property to sit on the market. As agents, our focus remains on educating buyers and sellers on today's market reality and what to expect in a given price range.”

Prices Remain Stable Nationally

The median of sales prices across the 46 metro areas was $450,000 in July. That figure was flat from June and up 3.4% from a year earlier. The median listing price of new listings fell 1.1% month over month and rose 1.8% year over year.

Trenton posted the largest annual increase in median sales price, rising 8.1% to $574,500. New York’s median sales price rose 6.1% to $700,000, while Chicago increased 5.7% to $390,000. Bozeman recorded the largest decline, with its median sales price down 12.6% to $690,000.

The average close-to-list price ratio remained at 99%, unchanged from both June and July 2025. San Francisco posted the highest ratio at 105.2%, while Miami had the lowest at 94.4%.

A Localized Market Picture

The July report presents a market in which added inventory and steady overall pricing are giving buyers more options, though the pace of sales, supply and pricing remains highly dependent on location.

The REMAX National Housing Report is distributed mid-month and is based on MLS data for single-family residential properties in 46 metropolitan areas.