March, April and May were historic months for properties for sale being added to the market. As a reaction to that, July has had the highest number of properties go under contract in 3 years. With more inventory to choose from and an average days on market of more than 100 days, it’s not surprising that July has recorded an almost 20% increase in pending real estate transactions. July’s activity has surpassed the spring markets of the last 3 years. I’ll follow this statistic to see if it translates into a surge of August closings. 

New construction accounts for almost half of the single family homes that are under contract for the month of July. 

Comparing July 2025 to July 2024: we have 22% more previously owned homes for sale. 

With the large increase in inventory, single family home owners who are selling their home are having to make a decision: lower their price or keep their home. Here are the statistics comparing the July totals for Expired and Withdrawn listings for the last 3 years:

2025- 424

2024- 246 

2023- 183

FED UPDATE:

The Federal Reserve held the Federal Funds rate steady for the fifth consecutive meeting this week, despite significant pressure from President Trump to cut rates more aggressively. Fed Chair Jerome Powell cited "elevated uncertainty" about the economic outlook, particularly regarding the impact of tariffs on inflation, while noting that the economy remains "in a solid position" with low unemployment and solid labor market conditions. Economists currently forecast a 63% likelihood of a rate cut at the Fed's next meeting in mid-September which could provide some relief for mortgage rates and the housing market if it materializes. If you’re wondering- Jerome Powell’s term ends May 2026. 

It’s never been more important to have a trusted real estate advisor. If we can help you, please don’t hesitate to contact us. We’d love to learn more about your specific situation and see how we can best help you achieve your goals.