July nationwide home sales rebounded 3.8 percent from July while the median sales price dropped for the first time this year, according to the RE/MAX National Housing Report. The report, which surveys 51 metro areas across the U.S., also found the July median price of $425,000 was $5,000 — or 1.2 percent — lower than June. Compared to one year ago, July home sales were up 6.7 percent and the median sales price increased 3.7 percent.
Inventory, meanwhile, was up 1.8 percent over June and 36.7 percent year-over-year. This happened despite a 9.4 percent decline in new listings from June, though new listings were up Please log in to see the rest of this story.
