US Home Sales Rise, but Higher Mortgage Rates Cloud Outlook

Home sales across the United States increased by 7 percent in July year-over-year, registering the strongest annual gain in 2026, according to real estate marketplace Zillow.
In total, 382,898 homes were sold last month, Zillow said in an Aug. 6 report. Among the metros tracked by the company, the largest annual sales gain was in Salt Lake City, Utah, where 19.9 percent more properties were sold in July than a year ago.
This was followed by Austin, Texas; Columbus, Ohio; Miami, Florida; and Milwaukee, Wisconsin—all of which recorded sales 15 percent higher than the previous year.
According to Zillow, the nationwide improvement in sales numbers last month was driven by home-buying contracts signed earlier, when purchase activity was driven by a combination of pent-up demand and an improving mortgage rate environment….