The numbers: Existing-home sales edged higher as the inventory of homes for sale grew, giving buyers some more breathing room in a tough market.

Existing-home sales rose 2% to a seasonally-adjusted, annual rate of 5.99 million in July, the National Association of Realtors said Monday. Compared with June 2020, home sales were up 1.5%.

Economists polled by MarketWatch had projected existing-home sales to come in at 5.83 million. The median sales price of an existing home was up 17.8% year-over-year at $359,900, but was below the record set the month prior.

What happened: Existing sales rose in three of the four regions nationally, with the Northeast being the lone region not to see a monthly increase. Still, sales remained even with June’s figures in the Northeast. The Midwest saw the largest gain from June, with a 3.8% uptick, followed by the West (up 3.3%) and the South (up 1.2%).

“Much of the home sales growth is still occurring in the upper-end markets, while the mid- to lower-tier areas aren’t seeing as much growth because there are still too few starter homes available,” said Lawrence Yun, chief economist at the National Association of Realtors, in the report.