The inventory of existing homes for sale rose while prices eased somewhat from their record-highs in July, suggesting some relief may be in store for prospective buyers gripped by months of surging prices.
Total housing inventory rose 7.3 percent over-the-month in July, according to the National Association of Realtors (NAR). At 1.32 million units, this is equivalent to around 2.6 months at the current monthly sales pace.
