More Inventory Gave Homebuyers Added Options as Prices Held Steady in July

The additional inventory may create more opportunity for buyers in some markets, but the data also points to a highly localized housing environment. Some metros posted sizable inventory gains and higher months' supply, while others continued to see tighter supply compared to last year. Buyers and sellers may experience significantly different conditions depending on where they live. 

That variation is evident in Miami, where closed transactions increased 11.8% from a year ago, placing the market among the top five metros for annual sales growth.

"This month's data reflects the ever-changing real estate market in Miami," said Anthony Askowitz, Broker/Owner of REMAX Advance Realty in Miami, Florida. "We had more sales in July as buyers found opportunities across a wider range of price points. Sellers are also becoming savvier and understand that they need to price appropriately if they don't want their property to sit on the market. As agents, our focus remains on educating buyers and sellers on today's market reality and what to expect in a given price range."

Nationally, home sales fell 5.7% month over month but were 2.5% higher than a year earlier. New listings were down 2.7% from the previous month but up 1.4% year over year. Months' supply of inventory rose to 3.0, up from 2.7 in June and 2.9 one year ago. Homes sold in July spent an average of 45 days on the market, up three days from the previous month and one day from last year. 

Other metrics of note:

• Median listing price of new listings was down 1.1% month over month and up 1.8% year over year.
• The close-to-list price ratio remained at 99%, unchanged from the previous month and one year ago.

Highlights and local market results for July include:

New Listings 

In the 46 metro areas surveyed in July 2026, the number of newly listed homes was up an average of 1.4% compared to July 2025, and down 2.7% compared to June 2026. The markets with the biggest increase and decrease in year-over-year new listings percentage were:

Closed Transactions 

Of the 46 metro areas surveyed in July 2026, the overall number of home sales was up an average of 2.5% compared to July 2025, and down 5.7% compared to June 2026. The markets with the biggest increase and decrease in year-over-year sales percentage were:

Median Sales Price – Median of 46 metro area prices

In July 2026, the median of all 46 metro area sales prices was $450,000 up 3.4% from July 2025, and flat compared to June 2026. The markets with the biggest increase and decrease in year-over-year median sales price were:

Close-to-List Price Ratio – Average of 46 metro area prices

In July 2026, the average close-to-list price ratio of all 46 metro areas in the report was 99%, the same as July 2025 and June 2026. The close-to-list price ratio is calculated by the average value of the sales price divided by the list price for each transaction. When the number is above 100%, the home closed for more than the list price. If it's less than 100%, the home sold for less than the list price. The metro areas with the highest and lowest close-to-list price ratios were:

Days on Market – Average of 46 metro areas

The average days on market for homes sold in July 2026 was 45, up one day compared to the average in July 2025 (44 days) and up three days compared to June 2026 (42 days). Days on market is the number of days between when a home is first listed in an MLS and a sales contract is signed. The metro areas with the highest and lowest days on market averages were:

Months' Supply of Inventory – Average of 46 metro areas

The number of homes for sale in July 2026 was up 4.7% from July 2025 and up 2.8% from June 2026. Based on the rate of home sales in July 2026, the months' supply of inventory was 3.0, up from 2.9 in July 2025, and up from 2.7 in June 2026. The markets with the highest and lowest months' supply of inventory were:

About the REMAX Network

As one of the leading global real estate franchisors, RE/MAX, LLC is a subsidiary of RE/MAX Holdings (NYSE: RMAX) with more than 145,000 agents in nearly 8,500 offices and a presence in more than 120 countries and territories. Nobody in the world sells more real estate than REMAX, as measured by residential transaction sides. REMAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. REMAX agents have lived, worked and served in their local communities for decades, raising millions of dollars every year for Children's Miracle Network Hospitals® and other charities. To learn more about REMAX, to search home listings or find an agent in your community, please visit www.remax.com. For the latest news about REMAX, please visit news.remax.com.

Report Details

The REMAX National Housing Report is distributed mid-month. The Report is based on MLS data for the stated month in 46 metropolitan areas, includes single-family residential property types, and is not annualized. For maximum representation, most of the largest metro areas in the country are represented, and an attempt is made to include at least one metro area in almost every state. Metro areas are defined by the Core Based Statistical Areas (CBSAs) established by the U.S. Office of Management and Budget. Common differences between the NHR and other sources are typically due to a difference in the definition of the market area, annualization, and/or a difference in metric definition or aggregation calculation.

Definitions

Closed Transactions are the total number of closed residential transactions during the given month. Months' Supply of Inventory is the total number of residential properties listed for sale at the end of the month (current inventory) divided by the number of sales contracts signed (pending listings) during the month. Where "pending" data is unavailable, an inferred pending status is calculated using closed transactions. Days on Market is the average number of days that pass from the time a property is listed until the property goes under contract. Median Sales Price for a metro area is the median sales price for closed transactions in that metro area.  The nationwide Median Sales Price is calculated at the nationwide aggregate level using all sale prices from the included metro areas.  The Close-to-List Price Ratio is the average value of the sales price divided by the list price for each closed transaction.

MLS data is provided by Constellation. While MLS data is believed to be reliable, it cannot be guaranteed. MLS data is constantly being updated, making any analysis a snapshot at a particular time. Every month, the previous period's data is updated to ensure accuracy over time. Raw data remains the intellectual property of each local MLS organization.

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SOURCE RE/MAX, LLC