July 2026 Real Estate Market Update

U.S. existing-home sales declined 2.4% in July from the previous month, reaching a seasonally adjusted annual rate of 4.09 million units, according to the National Association of REALTORS® (NAR). While sales increased in the Northeast, they declined across the West, South, and Midwest. Compared with July 2025, however, existing-home sales were up 2.8%, with annual gains reported in the Midwest, South, and West.

In the Chattanooga region, market activity remained strong. New listings increased 0.7% to 1,552, while pending sales climbed 10.7% to 1,031. Inventory grew 21.3% to 4,099 properties, giving buyers more options. The median sales price also rose 2.9%, increasing from $349,900 to $360,000. Homes spent an average of 48 days on the market, down 2.0%, while months of supply increased 15.4% to 4.5 months.

Nationally, the median existing-home price reached a record $440,600, up 1.8% from a year earlier. Home prices have now posted annual gains for 36 consecutive months, highlighting continued buyer demand despite inventory levels remaining below historically balanced conditions.

At the start of July, approximately 1.56 million homes were available for sale nationwide down 0.6% from the previous month but 1.3% higher than the same period last year. This represented a 4.6-month supply at the current sales pace. Homes remained on the market for a median of 28 days, while first-time buyers accounted for 33% of all home purchases.

Overall, the July market reflects a balance of increased inventory, continued price growth, and steady buyer demand creating opportunities for both buyers and sellers navigating today’s real estate market.