The median home price was $480,473 in July, which was a decrease of 4.5 percent from June and a 9.9 percent increase from July of last year. The median home price has increased by approximately $43,164 in the past year.
A seasonally adjusted 44,854 homes were sold in July, which was down 1.3 percent from June and up 4.7 percent from the previous year. Currently, 2016 is outpacing 2015 by approximately 27,595 home sales.
The sales-to-new-listings ratio declined to 61.6 percent in July, and a seasonally adjusted 72,781 new listings came on the market. This ratio could indicate a seller's market in the majority of regions.
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