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Housing · August 21, 2026 · 2 min read

NAR Reported July Existing-Home Sales Fell 1.7% to a 4.06 Million Annual Rate

By Econ Data Tools Editorial Team

Published August 21, 2026 • Updated August 21, 2026

The National Association of REALTORS® reported a 1.7% month-over-month decline in July existing-home sales, while the median price rose 2.0% from a year earlier.

CONFIRMED FACTS The National Association of REALTORS® (NAR) reported on August 11 that existing-home sales declined 1.7% in July 2026 from June to a seasonally adjusted annual rate of 4.06 million. NAR reported that the rate was 0.7% above July 2025. NAR reported total housing inventory of 1.54 million units at the end of July, down 1.9% from June and 0.6% from a year earlier. That inventory equaled a 4.6-month supply, unchanged from both June and July 2025. The reported median existing-home price across all housing types was $434,100, 2.0% above a year earlier. NAR’s methodology says its monthly Existing-Home Sales indicator is based on a representative sample of 210 boards and MLSs. It aggregates and weights reported raw sales across the four Census regions, then converts the volume to a seasonally adjusted annualized rate. The headline sales measure includes single-family homes, condominiums, and co-ops. ANALYSIS The release combines a lower month-over-month annualized sales pace with a median price above its year-earlier level. Those are different measures: the sales rate is seasonally adjusted and annualized, while NAR says sales prices are not seasonally adjusted. Inventory’s unchanged months’ supply provides a separate measure of listings relative to the sales pace, not a prediction of future prices. UNKNOWNS AND LIMITS The annual rate is not a count of transactions completed in July; it represents the annual total if July’s seasonally adjusted pace persisted for 12 months. NAR identifies possible sample-data issues including changes in board or MLS jurisdictions, vendors or staff, nonresponse, and erroneous data. The report does not establish why sales, inventory, or prices changed, determine conditions in a specific local market, or forecast mortgage rates, home prices, or future sales. NAR revises seasonal factors and affected seasonally adjusted data annually.

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