Highlights:

The five-month streak of record-setting home prices has ended, and the home supply is beginning to inch up.
The median home sale price was $362,750 and did not set a new, record high for the first time since early March.
Trends for home prices, sales, and new listings are beginning to resemble the typical pattern for this time of year.
If low mortgage rates continue, homebuying conditions will likely improve (relative to earlier in the summer), with more options and less competition for homebuyers.
According to the U.S. Department of Housing and Urban Development (HUD), the July housing market activity was mixed.