U.S. Existing Home Sales Rise 7% in July

Existing home sales in the United States recorded their strongest annual gain of 2026 in July, rising 7% year-over-year. Despite this increase, Zillow warned that this growth may represent the peak for the year as the pipeline for future sales begins to dry up.

Newly pending listings grew only 0.3% from a year ago and fell 7.7% compared to June. Zillow attributed this cooling trend to a worsening rate environment, with mortgage rates averaging nearly 6.7% according to Freddie Mac, as well as an oil price shock in July that deterred buyers. The typical home value rose 1.1% year-over-year to $371,757.

Market activity remains constrained by the lock-in effect, where homeowners with low mortgage rates are reluctant to sell. The National Association of Realtors is expected to release its own July existing-home sales report next week to provide further data on these trends.