Home sales rose 7% in July, driven by earlier pent-up demand and improving rates, but new pending listings grew only 0.3% year over year, suggesting a peak. U.S. home values increased 1.1% annually, with a typical home value at $371,757. Mortgage payments were 0.9% lower than last year but may rise due to higher rates. Inventory rose slightly, with 1.41 million homes for sale. Median days to pending increased to 25, and 27.1% of listings had price cuts. Typical rent rose 2.3% annually.