More Inventory Gave Homebuyers Added Options as Prices Held Steady in July

(Neutral)

Rhea-AI Summary

REMAX Holdings (NYSE:RMAX) released its July 2026 National Housing Report covering 46 U.S. metro areas. Inventory increased 2.8% from June and 4.7% year over year, while the median sales price stayed flat month over month at $450,000, up 3.4% from July 2025.

National home sales fell 5.7% from June but rose 2.5% annually. New listings were down 2.7% month over month and up 1.4% year over year. Months’ supply of inventory reached 3.0, up from 2.7 in June. Homes spent an average of 45 days on market, three days longer than in June. The close-to-list price ratio held at 99%, indicating properties generally sold near asking price. Local conditions varied sharply, with metros such as Miami, Bozeman and Minneapolis posting notable annual sales gains, while markets like Raleigh and Houston saw modest declines.

Market Context

RE/MAX's Q2 2026 earnings event recorded a 5.57% 24-hour move, providing a company-specific comparis...

Analysis

RE/MAX's Q2 2026 earnings event recorded a 5.57% 24-hour move, providing a company-specific comparison for this housing update. National averages mask local variation, and monthly sales declines remain a risk to interpretation.

Key Figures

Inventory change: 2.8% month over month; 4.7% year over year Median sales price: $450,000 Closed transactions: 5.7% lower month over month; 2.5% higher year over year +4 more

7 metrics

Inventory change 2.8% month over month; 4.7% year over year 46 metro areas, July 2026

Median sales price $450,000 July 2026; flat month over month and up 3.4% year over year

Closed transactions 5.7% lower month over month; 2.5% higher year over year 46 metro areas, July 2026

Months' supply 3.0 July 2026; up from 2.7 in June and 2.9 one year ago

Days on market 45 days July 2026; up three days from June and one day year over year

Miami closed transactions 11.8% higher year over year Miami, July 2026

Close-to-list ratio 99% 46 metro areas, July 2026; unchanged month over month and year over year

Historical Context

5 past events · Latest: Aug 14 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Aug 14	Merger approval	Positive	+2.0%	Securityholders approved Real's proposed acquisition of RE/MAX Holdings.
Aug 14	Strategic alliance	Positive	+0.8%	REMAX and Golfweek launched a golf-focused real estate destination.
Aug 6	Q2 earnings	Negative	+5.6%	Revenue, adjusted EBITDA, and adjusted EPS declined year over year.
Aug 4	Merger election deadline	Neutral	+5.8%	RE/MAX shareholders received instructions for selecting merger consideration.
Jul 28	Earnings date notice	Neutral	-4.0%	The company scheduled second-quarter results for August 6, 2026.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent positive corporate announcements aligned with positive reactions, while the negative Q2 earnings event also produced a positive move, indicating inconsistent news-response alignment.

Key Terms

months' supply of inventory, close-to-list price ratio, days on market, MLS data

4 terms

months' supply of inventory technical

"Months' supply of inventory rose to 3.0, up from 2.7 in June"

Months' supply of inventory measures how many months it would take to sell all current inventory at the present rate of sales; imagine timing how long a pantry would last if you used items at today's pace. Investors use it to gauge balance between supply and demand: a high number suggests excess supply that can depress prices and margins, while a low number signals tight supply that can support higher prices or faster turnover.

close-to-list price ratio technical

"The close-to-list price ratio remained at 99%"

The close-to-list price ratio compares a stock’s closing market price to its official list (or offer) price, expressed as a number or percentage. It tells investors how the market valued the security at the end of a trading session relative to the price set when it was listed—like checking the final sale price against the sticker price—helping judge early demand, sentiment, and short‑term performance.

days on market technical

"Homes sold in July spent an average of 45 days on the market"

Days on market is the number of calendar days a financial offering, security listing, or asset remains available for purchase from the time it is first offered until it is fully sold or removed. Investors watch this measure because a short span suggests strong demand or easy buying and selling, while a long span can signal weak interest, possible price pressure, or slower marketability—think of it as how fast an item clears a store shelf.

MLS data technical

"The Report is based on MLS data for the stated month"

MLS data is the shared database of property listings used by real estate brokers that shows details like asking price, sale status, size, features and recent comparable sales. For investors it acts like a public catalog and historical record that helps establish fair value, track local supply and demand, and spot pricing trends or opportunities—similar to using a price chart and product specs before buying an expensive item.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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08/19/2026 - 07:50 AM

The July REMAX National Housing Report shows more homes for sale, stable prices and market conditions that varied widely by location

DENVER, Aug. 19, 2026 /PRNewswire/ -- Homebuyers had more options in July as the number of homes for sale increased from both the previous month and the prior year, while prices held steady month over month, according to data from the 46 metro areas surveyed in the July 2026 REMAX National Housing Report. Inventory rose 2.8% from June and 4.7% from a year earlier, while the median sales price remained flat at $450,000 and was 3.4% higher year over year.

The REMAX National Housing Report for July shows that the average number of home sales across the 46 metro areas surveyed increased by 2.5% year over year.

The additional inventory may create more opportunity for buyers in some markets, but the data also points to a highly localized housing environment. Some metros posted sizable inventory gains and higher months' supply, while others continued to see tighter supply compared to last year. Buyers and sellers may experience significantly different conditions depending on where they live.

That variation is evident in Miami, where closed transactions increased 11.8% from a year ago, placing the market among the top five metros for annual sales growth.

"This month's data reflects the ever-changing real estate market in Miami," said Anthony Askowitz, Broker/Owner of REMAX Advance Realty in Miami, Florida. "We had more sales in July as buyers found opportunities across a wider range of price points. Sellers are also becoming savvier and understand that they need to price appropriately if they don't want their property to sit on the market. As agents, our focus remains on educating buyers and sellers on today's market reality and what to expect in a given price range."

Nationally, home sales fell 5.7% month over month but were 2.5% higher than a year earlier. New listings were down 2.7% from the previous month but up 1.4% year over year. Months' supply of inventory rose to 3.0, up from 2.7 in June and 2.9 one year ago. Homes sold in July spent an average of 45 days on the market, up three days from the previous month and one day from last year.

Other metrics of note:

Median listing price of new listings was down 1.1% month over month and up 1.8% year over year.
The close-to-list price ratio remained at 99%, unchanged from the previous month and one year ago.

Highlights and local market results for July include:

New Listings
In the 46 metro areas surveyed in July 2026, the number of newly listed homes was up an average of 1.4% compared to July 2025, and down 2.7% compared to June 2026. The markets with the biggest increase and decrease in year-over-year new listings percentage were:

New Listings: 5 Markets with the Biggest YoY Increase
Market	July 2026	July 2025	Year-over-Year % Change
Anchorage, AK	805	662	+21.6 %
St. Louis, MO	4,590	4,087	+12.3 %
Indianapolis, IN	3,912	3,533	+10.7 %
Providence, RI	1,941	1,779	+9.1 %
Minneapolis, MN	7,192	6,661	+8.0 %

New Listings: 5 Markets with the Biggest YoY Decrease
Market	July 2026	July 2025	Year-over-Year % Change
San Antonio, TX	4,433	4,999	-11.3 %
Baltimore, MD	3,559	3,873	-8.1 %
San Diego, CA	3,530	3,744	-5.7 %
Wichita, KS	1,052	1,109	-5.1 %
Washington, DC	7,678	8,071	-4.9 %

Closed Transactions
Of the 46 metro areas surveyed in July 2026, the overall number of home sales was up an average of 2.5% compared to July 2025, and down 5.7% compared to June 2026. The markets with the biggest increase and decrease in year-over-year sales percentage were:

Closed Transactions: 5 Markets with the Biggest YoY Increase
Market	July 2026	July 2025	Year-over-Year % Change
Bozeman, MT	204	166	+22.9 %
Wichita, KS	962	848	+13.4 %
Honolulu, HI	735	657	+11.9 %
Miami, FL	6,479	5,796	+11.8 %
Minneapolis, MN	5,101	4,569	+11.6 %

Closed Transactions: 5 Markets with the Biggest YoY Decrease
Market	July 2026	July 2025	Year-over-Year % Change
Raleigh, NC	2,097	2,263	-7.3 %
Birmingham, AL	1,351	1,420	-4.9 %
Houston, TX	7,841	8,157	-3.9 %
Nashville, TN	3,213	3,341	-3.8 %
Omaha, NE	1,191	1,230	-3.2 %

Median Sales Price – Median of 46 metro area prices
In July 2026, the median of all 46 metro area sales prices was $450,000 up 3.4% from July 2025, and flat compared to June 2026. The markets with the biggest increase and decrease in year-over-year median sales price were:

Median Sales Price: 5 Markets with the Biggest YoY Increase
Market	July 2026	July 2025	Year-over-Year % Change
Trenton, NJ	$574,500	$531,500	+8.1 %
Pittsburgh, PA	$279,000	$260,000	+7.3 %
New York, NY	$700,000	$660,000	+6.1 %
Chicago, IL	$390,000	$369,000	+5.7 %
Des Moines, IA	$326,910	$309,900	+5.5 %

Median Sales Price: 5 Markets with the Biggest YoY Decrease
Market	July 2026	July 2025	Year-over-Year % Change
Bozeman, MT	$690,000	$789,500	-12.6 %
Wichita, KS	$250,000	$260,000	-3.8 %
San Antonio, TX	$319,000	$329,499	-3.2 %
Raleigh, NC	$441,000	$450,000	-2.0 %
Orlando, FL	$407,000	$410,000	-0.7 %

Close-to-List Price Ratio – Average of 46 metro area prices
In July 2026, the average close-to-list price ratio of all 46 metro areas in the report was 99%, the same as July 2025 and June 2026. The close-to-list price ratio is calculated by the average value of the sales price divided by the list price for each transaction. When the number is above 100%, the home closed for more than the list price. If it's less than 100%, the home sold for less than the list price. The metro areas with the highest and lowest close-to-list price ratios were:

Close-to-List Price Ratio: 5 Markets with the Highest Close-to-List Price Ratio
Market	July 2026	July 2025	Year-over-Year Difference*
San Francisco, CA	105.2 %	101.8 %	+3.4 pp
Hartford, CT	104.7 %	104.4 %	+0.3 pp
New York, NY	102.4 %	102.0 %	+0.4 pp
Trenton, NJ	101.4 %	102.1 %	-0.7 pp
St. Louis, MO	100.9 %	100.9 %	0.0 pp
*Difference displayed as change in percentage points

Close-to-List Price Ratio: 5 Markets with the Lowest Close-to-List Price Ratio
Market	July 2026	July 2025	Year-over-Year Difference*
Miami, FL	94.4 %	94.3 %	+0.1 pp
Tampa, FL	97.0 %	96.7 %	+0.3 pp
Houston, TX	97.1 %	96.7 %	+0.4 pp
San Antonio, TX	97.2 %	97.3 %	-0.2 pp
Coeur d'Alene, ID	97.3 %	97.3 %	+0.0 pp
*Difference displayed as change in percentage points

Days on Market – Average of 46 metro areas
The average days on market for homes sold in July 2026 was 45, up one day compared to the average in July 2025 (44 days) and up three days compared to June 2026 (42 days). Days on market is the number of days between when a home is first listed in an MLS and a sales contract is signed. The metro areas with the highest and lowest days on market averages were:

Days on Market: 5 Markets with the Highest Days on Market
Market	July 2026	July 2025	Year-over-Year % Change
San Antonio, TX	85	83	+2.8 %
Miami, FL	77	78	-1.5 %
Phoenix, AZ	74	75	-1.6 %
Tampa, FL	71	67	+6.1 %
Orlando, FL	65	67	-2.2 %

Days on Market: 5 Markets with the Lowest Days on Market
Market	July 2026	July 2025	Year-over-Year % Change
Hartford, CT	18	20	-12.7 %
Omaha, NE	25	25	-2.0 %
Anchorage, AK	25	28	-12.5 %
Cincinnati, OH	26	28	-5.6 %
Chicago, IL	27	28	-3.5 %

Months' Supply of Inventory – Average of 46 metro areas
The number of homes for sale in July 2026 was up 4.7% from July 2025 and up 2.8% from June 2026. Based on the rate of home sales in July 2026, the months' supply of inventory was 3.0, up from 2.9 in July 2025, and up from 2.7 in June 2026. The markets with the highest and lowest months' supply of inventory were:

Months' Supply of Inventory: 5 Markets with the Highest Months' Supply of Inventory
Market	July 2026	July 2025	Year-over-Year % Change
Miami, FL	6.2	7.1	-12.5 %
San Antonio, TX	6.0	5.6	+6.5 %
Houston, TX	5.2	4.7	+9.4 %
Los Angeles, CA	4.6	3.0	+54.3 %
San Diego, CA	4.5	2.9	+57.1 %

Months' Supply of Inventory: 5 Markets with the Lowest Months' Supply of Inventory
Market	July 2026	July 2025	Year-over-Year % Change
Hartford, CT	0.9	1.0	-12.0 %
Albuquerque, NM	1.3	1.4	-8.1 %
Philadelphia, PA	1.4	1.4	+5.7 %
St. Louis, MO	1.5	1.4	+5.2 %
Tulsa, OK	1.5	1.7	-10.4 %

About the REMAX Network
As one of the leading global real estate franchisors, RE/MAX, LLC is a subsidiary of RE/MAX Holdings (NYSE: RMAX) with more than 145,000 agents in nearly 8,500 offices and a presence in more than 120 countries and territories. Nobody in the world sells more real estate than REMAX, as measured by residential transaction sides. REMAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. REMAX agents have lived, worked and served in their local communities for decades, raising millions of dollars every year for Children's Miracle Network Hospitals® and other charities. To learn more about REMAX, to search home listings or find an agent in your community, please visit www.remax.com. For the latest news about REMAX, please visit news.remax.com.

Report Details
The REMAX National Housing Report is distributed mid-month. The Report is based on MLS data for the stated month in 46 metropolitan areas, includes single-family residential property types, and is not annualized. For maximum representation, most of the largest metro areas in the country are represented, and an attempt is made to include at least one metro area in almost every state. Metro areas are defined by the Core Based Statistical Areas (CBSAs) established by the U.S. Office of Management and Budget. Common differences between the NHR and other sources are typically due to a difference in the definition of the market area, annualization, and/or a difference in metric definition or aggregation calculation.

Definitions
Closed Transactions are the total number of closed residential transactions during the given month. Months' Supply of Inventory is the total number of residential properties listed for sale at the end of the month (current inventory) divided by the number of sales contracts signed (pending listings) during the month. Where "pending" data is unavailable, an inferred pending status is calculated using closed transactions. Days on Market is the average number of days that pass from the time a property is listed until the property goes under contract. Median Sales Price for a metro area is the median sales price for closed transactions in that metro area. The nationwide Median Sales Price is calculated at the nationwide aggregate level using all sale prices from the included metro areas. The Close-to-List Price Ratio is the average value of the sales price divided by the list price for each closed transaction.

MLS data is provided by Constellation. While MLS data is believed to be reliable, it cannot be guaranteed. MLS data is constantly being updated, making any analysis a snapshot at a particular time. Every month, the previous period's data is updated to ensure accuracy over time. Raw data remains the intellectual property of each local MLS organization.

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SOURCE RE/MAX, LLC

FAQ

What were the key highlights of the July 2026 REMAX National Housing Report for RMAX?

The July 2026 REMAX National Housing Report showed higher inventory and steady prices. According to REMAX, homes for sale rose 4.7% year over year, the median price was $450,000 (up 3.4%), and months’ supply increased to 3.0 across 46 surveyed metro areas.

How did U.S. housing inventory change in July 2026 according to REMAX (NYSE:RMAX)?

Housing inventory increased modestly in July 2026. According to REMAX, homes for sale were up 2.8% from June and 4.7% compared to July 2025, lifting months’ supply of inventory to 3.0 and giving buyers more options in several surveyed metro markets.

What was the U.S. median home sales price in July 2026 in the REMAX report?

The median U.S. home sales price was $450,000 in July 2026. According to REMAX, that figure was flat versus June but 3.4% higher than July 2025, indicating prices held steady month over month while still showing moderate year-over-year appreciation across the 46 metro areas.

How did home sales volumes move in July 2026 in the REMAX (RMAX) housing data?

Home sales softened from the prior month but improved year over year. According to REMAX, closed transactions fell 5.7% versus June 2026 but were 2.5% higher than July 2025 across the 46 metro areas tracked in the National Housing Report.

What did the July 2026 REMAX report say about days on market and demand?

Homes took slightly longer to sell in July 2026. According to REMAX, properties spent an average of 45 days on market, up three days from June and one day year over year, while the close-to-list price ratio stayed at 99%, suggesting demand still supported near-asking-price sales.

Which markets showed the strongest sales growth in the July 2026 REMAX National Housing Report?

Several metros posted notable year-over-year sales gains. According to REMAX, Bozeman led with a 22.9% increase, followed by Wichita (13.4%), Honolulu (11.9%), Miami (11.8%), and Minneapolis (11.6%), highlighting how local housing conditions varied widely despite national-level averages.

How did months’ supply of inventory vary by metro in the July 2026 REMAX data?

Months’ supply showed significant regional differences. According to REMAX, Miami had 6.2 months, San Antonio 6.0, and Houston 5.2, among the highest, while Hartford (0.9), Albuquerque (1.3), Philadelphia (1.4), St. Louis (1.5), and Tulsa (1.5) were among the tightest markets.