Home Prices Rise 2.6% YoY Despite Expanding Inventory

July brought some interesting movement in the housing market: national home prices climbed 2.6% year-over-year, reaching a median of $400,000. We also saw home sales increase by 2.9% and inventory grow by 4.4%. What stands out is how price growth differed by property type—single-family homes saw a 2.5% rise, condos were up 2.3%, and townhomes edged up by 0.8%. As someone who helps clients across Salem, Aumsville, and the Willamette Valley make sense of these numbers, I find it helpful to track how shifting inventory and sales trends shape opportunities for both buyers and sellers. Staying informed about these details can really make a difference when planning your next move in our local market.