As affordability concerns grow across the U.S., pending-home sales continued to decline in July. Last month, pending sales declined by more than 5% year-over-year, and that trend continued into July.

According to the National Association of Realtors’ Pending Home Sales Report, July saw pending sales decline by 2.3% month-over-month and 2.2% year-over-year in July.

Most regions of the U.S. saw home prices decline

On a month-over-month basis, all four regions of the U.S. saw pending-home sales decline. The most significant decline was in the West, where pending sales declined 4.7% month-over-month. The West also saw the largest year-over-year decrease at 7.1%.

Meanwhile, the Midwest was the only region to see a year-over-year increase in pending sales at 1.7%. It also saw the smallest month-over-month decline at just 0.7%.

Which cities saw pending-home sales grow?

Although pending sales declined nationwide, some local markets posted significant annual increases. The Virginia Beach metro saw pending sales increase by 17.2% year-over-year, and in the San Antonio metro, they grew by 11.8% year-over-year. Cincinnati saw a slightly smaller increase at 6.2%, followed by Pittsburgh at 3.7%, and then Miami at 2.4%.