02:48 PM EDT, 08/21/2025 (MT Newswires) -- Home resales rose to a 4.01 million seasonally-adjusted annual rate in July from a 3.93 million rate in June and were up 0.9% from a 3.98 million rate in July 2024.

Three of the four US regions posted month-over-month sales gains in July and three of the four regions posted gains compared with a year earlier.

"The ever-so-slight improvement in housing affordability is inching up home sales," said NAR Chief Economist Lawrence Yun. "Wage growth is now comfortably outpacing home price growth, and buyers have more choices."

The supply of homes for sale rose to a 1.55 million level from 1.54 million in June and 1.34 million a year earlier. Prices rose by only 0.2% year-over-year.

Yun said that with home inventory at its highest level since May 2020, homebuyers are in a good position to negotiate a better price.

The flash manufacturing reading from S&P Global rose to 53.3 in August from 49.8 in July, hitting a 39-month high after regional data from the New York and Philadelphia Federal Reserve banks were mixed.

The ISM's national manufacturing reading will be released on Sept. 2.

Released at the same time, the flash services reading from S&P Global fell to 55.4 in August from 55.7 in July but still suggests solid expansion. The ISM's services reading is scheduled for release on Sept. 4.

The Philadelphia Fed's manufacturing reading fell to minus 0.3 in August from 15.9 in July, the opposite of the gain seen in the New York Fed's Empire State reading.

The Conference Board's Leading Economic Index fell by 0.1% in July after a 0.3% decline in June, pulled lower by falling consumer expectations and the ISM new orders index that were offset by rising stock prices and a decline in jobless claims.

Initial jobless claims increased by 11,000 to 235,000 in the employment survey week ended Aug. 16, lifting the four-week moving average by 4,500 to 226,250, a second straight increase. Initial claims were at a level of 221,000 in the employment survey week ended July 12.

Insured claims rose by 30,000 to 1.972 million in the week ended Aug. 9.

Natural gas stocks rose by 13 billion cubic feet to 3.199 trillion cubic feet in the week ended Aug. 15, down 2.9% from a year earlier but 5.8% higher than the seasonal average for the current week over the previous five years.