Zillow's July Market Report shows a 7% sales surge, but leading indicators point to a slower second half
Zillow's July Market Report highlights a 7% year-over-year surge in existing home sales, marking the strongest annual gain of the year so far, though this largely reflects contracts signed in June prior to rate spikes. Leading indicators point to a slowdown in the second half, with newly pending listings down 7.7% month-over-month and up only 0.3% annually as mortgage rates hit a one-year high. The typical U.S.
Key figures
- Rent mom
- 0.3%
- Rent yoy
- 2.3%
- Sales mom
- -2.7%
- Sales count
- 382898
- Typical rent
- 1962
- Inventory yoy
- 1.5%
- Home value mom
- 0.4%
- Home value yoy
- 1.1%
- Price cut share
- 27.1%
- Total inventory
- 1.41 million
- New listings yoy
- 3.1%
- Typical home value
- 371757
- Median days pending
- 25
- Mortgage payment yoy
- -0.9%
- Pending listings mom
- -7.7%
- Pending listings yoy
- 0.3%
- Existing home sales yoy
- 7%
- Monthly mortgage payment
- 1888
AI analysis
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