Record July Home Prices 8/18/26

Summary

CNBC's Jessica Ettinger reports July housing data with Diana Olick. Existing home sales fell from June as mortgage rates rose, but tight inventory pushed the median home price to a record $434,100, up 2% year over year. Cash transactions declined, and the existing home market remains near 30-year lows.

• July existing home sales declined from June as buyers pulled back
• 30-year fixed mortgage rates were around 6.6% in July and about 6.75% in early August
• 1.54 million homes were for sale at the end of July, down less than 1% year over year
• The median existing home sold for $434,100, an all-time July high, up 2% year over year
• All-cash transactions fell to 26% from 31% a year earlier
• Existing home sales have been stuck at 30-year lows, with the market in a four-year slump