August Existing-Home Sales Down 2% from July, 1.2% YOY

Washington, DC, September 10, 2026—Existing-home sales decreased by 2.0% month-over-month and 1.2% year-over-year to a seasonally adjusted annual rate of 3.98 million in August, according to the National Association of Realtors Existing-Home Sales report. The report provides the real estate ecosystem—including agents, homebuyers and sellers—with data on the level of home sales, price, and inventory. 

Month-over-month sales held steady in the West and declined in the Northeast, Midwest and South. Year-over-year sales were unchanged in the South and declined in the Northeast, Midwest and West. 

“Mortgage rates and home sales move in opposite directions, so it’s not surprising to see a mild dip in home buying activity due to high mortgage rates,” said NAR chief economist Lawrence Yun. “Still, home prices are rising, and existing home sales are actually up 1.6% year-to-date through the first eight months of the year. Homebuying demand, despite higher interest rates, is no doubt being supported by rising wages, which grew 3.1% in August, along with 643,000 net new jobs added since the start of the year. Job creation and wage growth typically drive housing demand.” “The number of months it would take to exhaust the total inventory at the current sales pace has grown to 4.9 months’ supply—its highest level in over ten years. The ample supply of homes for sale on the market is giving homebuyers better opportunities to negotiate,” Yun added.