House sales in the United States were chosen in July star-news.press/wp

Current homes in the United States increased by 2 % in July, while strengthening demand by slowing price growth and low mortgage rates.

The numbers come from Thursday a report By the National Association of Real Estate Junction (NAR), which showed an increase in sales of the month in the northeast, south and west, but fell in the Middle West.

“The constant improvement in the ability to withstand housing costs connects home sales,” said Lawrence Yun, Nar’s chief economist. “Wages are now growing over the growth of home prices comfortably, and buyers have more options.”

The average price of the current house was $ 422,400 in July, an increase of 0.2 % over one year.

“The growth near zero in home prices indicates that almost half of the country suffers from price cuts,” Yoon added.

Sales grew in the northeast, an increase of 8.7 % a month to the month, with an average price increased by 0.8 % from July 2024. The Middle West witnessed a decrease of 1.1 % in the month, as the average prices increased by 3.9 % of July 2024.

Real estate mortgage rates may also be constantly supporting sales growth. Average A stable mortgage for 30 years It was 6.72 % July, a decrease from 6.82 % in June and 6.85 % one year ago.

While the data indicates that the green buds for recovery in the housing market, another report on Thursday indicates that the weak labor market may prove sales.

More than five American workers delay or cancel a large purchase such as a house or a car because of their feelings about job security, according to reconnaissance From the real estate brokerage. This rises to approximately 60 % of the respondents who earn less than $ 50,000 a year.

Unemployment came by 4.2 % in July, which is marginally lower than June 4.1 %. Although they stayed at low levels historically, 31 % of the respondents in the RDFIN poll said they were either “somewhat concerned or very worried” about their job security, indicating a shift in the position of the labor market, regardless of material flexibility.

“Many workers are concerned about job security as they watch their companies adapt to this unconfirmed economy and are increasingly looking to artificial intelligence and other new technologies to achieve efficiency gains,” said Chen Zhao, head of Economy Research at Redvin. However, this frequency may lead to low prices further.

“The sellers should realize that buyers are careful, so the house’s pricing is competitively and that providing flexibility will be it is very important to close a deal,” said Zhao.