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● TRACKER Updated 27d ago · 7 sources tracked

Redfin names the 5 best cities to buy a home right now

US pending home sales fell 2.3% in July, according to the National Association of REALTORS. This decline represents the weakest level of activity since the start of the year and brings sales figures close to record lows. While Redfin has identified five top cities for home buyers, broader market conditions remain strained. Some analysts describe the current environment as a buyer's market, though only for those with sufficient financial means. Conversely, a separate survey suggests current conditions are the worst ever for those attempting to sell a home.

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  • ✓ US pending home sales decreased 2.3% in July.
  • ✓ July pending home sales reached the weakest level seen since the beginning of the year.
🛡️ Source Corroboration: 7 independent reporting domains (90% confidence) ⏱ Read time: ~2 min

What changed

The National Association of REALTORS reported a 2.3% decrease in pending home sales for July.

Live updates

  1. US Pending Home Sales Drop 2.3% in July

    US pending home sales fell 2.3% in July, according to the National Association of REALTORS. This decline represents the weakest level of activity since the start of the year and brings sales figures close to record lows. While Redfin has identified five top cities for home buyers, broader market conditions remain strained. Some analysts describe the current environment as a buyer's market, though only for those with sufficient financial means. Conversely, a separate survey suggests current conditions are the worst ever for those attempting to sell a home.

    Why it matters

    Pending home sales serve as a leading indicator for future completed real estate transactions. The current volatility reflects a tension between specific opportunistic markets and a general national decline in activity. This trend coincided with spot gold prices returning to $4,400/oz.

    What is confirmed

    • US pending home sales decreased 2.3% in July.
    • July pending home sales reached the weakest level seen since the beginning of the year.

    Still unconfirmed

    • The current market is a buyer's market for those who can afford it.

    What to watch next

    • Future NAR reports on completed home sales for July
    • Updates on the five cities Redfin identified as best for buyers
    Sources used for this update (7)
    1. thestreet.com — Redfin names the 5 best cities to buy a home right now
    2. Bloomberg — US Pending Home Sales Slide to Weakest Since Start of Year
    3. OregonLive.com — There has never been a worse time to sell a home, survey says
    4. KITCO — Spot gold back at $4,400/oz as U.S. pending home sales surprise with 2.3% drop in July
    5. Forex Factory — US Pending Home Sales Plunge Back Near Record Lows In July
    6. marketplace.org — A buyer's market? Yes. For those who can afford it.
    7. National Association of REALTORS® — NAR Pending Home Sales Report Shows 2.3% Decrease in July
    confidence 90%
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