(The Epoch Times)—As of the week ending July 19, homes are sitting on the market for eight days longer, compared to a year ago, as buyers remain on the sidelines, according to a July 24 Weekly Housing Trends report on the real estate listings website Realtor.
The median time homes sat on the market hit 58 days nationally, which happened amid active inventory jumping nearly 25 percent year-over-year, the 89th consecutive week of annual gains.
“There were more than 1 million homes for sale again last week, marking the 11th week in a row over the threshold, and the highest inventory level since November 2019,” the report said.
Despite more inventory and choices for buyers, high home costs kept them at bay, it added.
“The lack of significant buyer response to substantial gains in for-sale inventory has pushed many sellers to reduce prices. The price reduction share reached roughly 1 in 5 homes in June, the highest June share in the data’s history.”
The report noted high mortgage rates as one of the reasons why many buyers are unable to take advantage of the current situation.
The weekly average rate on a 30-year fixed-rate mortgage has remained above the 6 percent level since mid-September 2022, according to data from Freddie Mac. Since the beginning of this year, rates have remained above 6.5 percent every single week.
Meanwhile, the median sales price of new homes sold in the United States was $401,800 in June, up from $325,500 five years ago, according to data from the Federal Reserve Bank of St. Louis. Since October 2021, the price has mostly remained above the $400,000 level.
This persistence in elevated home prices and mortgage rates creates an extremely difficult affordability challenge for prospective homebuyers.
In a July 17 post, the National Association of Realtors predicted that if the 30-year fixed-rate mortgage rates were to drop to 6 percent, then around 5.5 million more households would find the median-priced home affordable.
If rates were to hit this level, around 10 percent of these households are expected to buy homes within 12 to 18 months, the association said. At present, the mortgage rate stands at 6.74 percent.
Lisa Sturtevant, chief economist at real estate data company Bright MLS, said in a July 24 commentary that mortgage rates are “not going to be anywhere close to hitting 6 percent this year.”
She suggested that the Federal Reserve may not bring down its benchmark interest rates in the near term, which would provide support for retaining mortgage rate levels.
The Fed’s interest rate has remained unchanged in a range of 4.25 to 4.5 percent since last year. Fed Chair Jerome Powell has also given no indication that any rate cut is on the horizon.
In addition to rates, other factors are also creating sluggishness in the housing market, Sturtevant said.
“In a recent survey conducted by Bright MLS, we found that compared to a year ago, fewer buyers are holding back because of high mortgage rates. A growing share cited other financial issues and general economic uncertainty as the reasons they are not buying this year,” she wrote.
“So while 6 percent might seem to be a magic number for the housing market, there are a lot of other factors that are driving home buying and selling decisions in this shifting market.”
Meanwhile, buyers stand to gain from the current buyer-seller dynamics in the market, real estate brokerage Redfin said in a June 16 statement.
Home sellers are now outnumbering buyers, with many willing to negotiate and offer concessions, it said, adding that some sellers may also be willing to accept lower down-payments.
“The buyers who are moving forward today are being very careful with their finances because, with housing costs near record highs, they’re typically spending a big portion of their paycheck to buy a home,” said Fernanda Kriese, a Redfin Premier agent in Las Vegas.
Three Reasons a Coffee Gift Set From This Christian Company Is Perfect for Christmas
When you’re searching for a Christmas gift that’s meaningful, useful, and rooted in faith, you don’t want to settle for anything generic. This season is filled with noise — mass-produced products, last-minute picks, and trends that fade as quickly as they appear. But one gift stands apart because it blends genuine quality with a message that matters: a coffee gift set from Promised Grounds Coffee.
This small Christian-owned company has become a favorite among believers who want to support faith-driven businesses while giving friends and family something they’ll actually enjoy. Here are three reasons a Promised Grounds Coffee gift set may be the most thoughtful and impactful present you give this year.
1. It’s Truly Delicious Coffee
Too many “gift-worthy” coffees look beautiful in the package but disappoint when the cup is poured. Promised Grounds takes the opposite approach — exceptional taste first, thoughtful presentation second.
Their beans are sourced with care, roasted in small batches, and crafted to bring out a rich, smooth flavor profile that appeals to both casual drinkers and true coffee lovers. Whether someone enjoys bold, dark roasts or lighter, more delicate blends, every sip reflects quality that stands shoulder-to-shoulder with the biggest specialty brands.
Simply put: this coffee is good. Really good. Some say it’s absolutely fantastic. If you want a gift that won’t be re-gifted, ignored, or shoved in a cabinet, this is it.
2. It Spreads the Word While Serving a Real Purpose
There are many Christian gifts that are meaningful… but not exactly practical. There are also useful gifts that have nothing to do with faith. Promised Grounds Coffee bridges both worlds beautifully.
Each gift set delivers an encouraging, faith-centered message through its packaging and presentation — a simple but powerful reminder of God’s goodness during the Christmas season. The cups are especially popular and serve as a daily reminder of the blessings from our Lord. At the same time, the product itself is something people will actually use and appreciate every single day.
It’s a gift that uplifts the spirit and fills the mug. A gift that points loved ones toward Scripture while still being part of the normal rhythm of life. And in a culture that increasingly pushes faith to the margins, giving a gift that quietly but confidently honors Christ can make a deeper impact than you might expect.
3. It’s Affordable, Valuable, and Elegantly Presented
Many people want to give something meaningful without breaking their Christmas budget. Promised Grounds Coffee strikes that perfect balance — the sets look and feel premium, but the price remains accessible.
The packaging is classy, clean, and gift-ready, making it ideal for:
- Family members of all ages
- Co-workers or employees
- Church friends or small-group leaders
- Hosts, neighbors, and last-minute gift needs
It’s the kind of gift that feels more expensive than it is — and more thoughtful than most of what you’ll find on store shelves.
The Perfect Blend of Faith, Flavor, and Christmas Cheer
A coffee gift set from Promised Grounds Coffee checks every box: a gift that tastes amazing, conveys your faith, supports a Christian business, and brings daily enjoyment to the person who receives it. In a season when so many gifts are forgotten, this one stands out for all the right reasons.
If you want a Christmas present that reflects your values and delivers genuine joy, Promised Grounds Coffee is the perfect place to start.