HAR Report: Days on Market, or the actual time it took to sell a home, held steady year-over-year at 26 days. Inventory registered a 2.5-months supply compared to 1.7 months a year earlier. That is the greatest supply of homes on the market since August of 2020. The current national inventory stands at 3.0 months, as reported by NAR.
Broken out by housing segment, July sales performed as follows:
$1 - $99,999: decreased 39.4 percent
$100,000 - $149,999: decreased 34.9 percent
$150,000 - $249,999: decreased 49.6 percent
$250,000 - $499,999: decreased 9.2 percent
$500,000 - $999,999: increased 10.1 percent
$1M and above: decreased 11.6 percent
HAR also breaks out sales figures for existing single-family homes. Existing home sales totaled 6,921 in July, down 20.3 percent from the same month last year. The average sales price rose 10.4 percent to a $427,931 while the median sales price jumped 11.5 percent to $340,000, the second highest of all time.