With more individuals looking to get properties, the title insurance market could see a boost in activity in the next few weeks.

Overall existing-home sales reached a high point for 2014 in July, as the rate jumped to 5.15 million units, 2.4 percent improved from June, when it was 5.03 million units, a report from the National Association of Realtors explained. The level was still more than 4 percent lower than a year ago, when the rate was 5.38 million units.

The total level of housing inventory during the month jumped 3.5 percent, bringing the overall level to 2.37 million properties, the report showed. This was nearly 6 percent improved from one year ago, as that figure was just 2.24 million units. Overall inventory supply at the current sales rate was 5.5 months.

"The number of houses for sale is higher than a year ago and tamer price increases are giving prospective buyers less hesitation about entering the market," said Lawrence Yun, chief economist at NAR. "More people are buying homes compared to earlier in the year and this trend should continue with interest rates remaining low and apartment rents on the rise."

Prices also made gains in July. According to the report, the median home price for this category reached $222,900, nearly 5 percent higher than one year ago, as well as the 29th month where a gain occurred.

Residential spending improves in June
Another measurement showed that the development market is making gains, as well.

The overall level of residential construction starts reached a rate of $214.3 billion in June, 3 percent higher than May's level, a report from McGraw Hill Construction explained. However, when singling out single family construction, the figure slid 2 percent from May.

"The cost of financing stayed low in June, as the 30-year fixed mortgage rate finished the month at 4.1 percent, but strict bank lending standards continue to make it hard for first-time homebuyers to enter the market, at a time when investor demand for single family homes is waning," said Robert Murray, chief economist at McGraw Hill Construction.

When looking at the total level of new construction spending, the figure rose to a rate of $549.7 billion, 6 percent higher than a month earlier, the report added. This was the most significant level achieved in 2014.