U.S. Home Sales Defy Affordability Crunch

Despite affordability concerns, July saw U.S. existing-home sales dip by 1.7%, landing at 4.06 million homes sold nationwide. At the same time, the median price rose 2% to $434,100, while mortgage rates hit 6.66%. The Northeast experienced a bump in sales, but the Midwest and South—regions that often mirror trends I see here in Michigan—saw declines. After more than 35 years guiding buyers and sellers in the Oxford, Metamora, Goodrich, Brandon, and Lapeer areas, I’ve learned how market shifts can affect each community differently. My priority is always to keep clients fully informed, so you can navigate these changes with confidence, whether you’re buying or selling.