Existing-Home Sales Inched Down 0.2% in August

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Existing-Home Sales Inched Down 0.2% in August

Washington, DC, September 25, 2025-Existing-home sales remained essentially the same in August, ticking down by 0.2% from July, according to the National Association of Realtors Existing-Home Sales Report. The Report provides the real estate ecosystem, including agents and home buyers and sellers, with data on the level of home sales, price, and inventory.

Month-over-month sales increased in the Midwest and West, and fell in the Northeast and South. Year-over-year, sales rose in the Midwest and South, and fell in the Northeast and West.

"Home sales have been sluggish over the past few years due to elevated mortgage rates and limited inventory," said NAR chief economist Lawrence Yun. "However, mortgage rates are declining and more inventory is coming to the market, which should boost sales in the coming months."

"Record-high housing wealth and a record-high stock market will help current homeowners trade up and benefit the upper end of the market. However, sales of affordable homes are constrained by the lack of inventory," Yun added. "The Midwest was the best-performing region last month, primarily due to relatively affordable market conditions. The median home price in the Midwest is 22% below the national median price."

Inventory in August

  • 1.53 million units: Total housing inventory, , down 1.3% from July and up 11.7% from August 2024 (1.37 million).
  • 4.6-month supply of unsold inventory, no change from July and up from 4.2 months in August 2024.

Median Sales Price in August

  • $422,600: Median existing-home price3 for all housing types, up 2.0% from one year ago ($414,200) – the 26th consecutive month of year-over-year price increases.

Says Truist, “Existing home sales for the month of August were modestly below the comparable period last year, but mostly the same. Annual run rate remains stubbornly around the four million unit mark, and we have yet to see any meaningful signs that this will begin to move off these trough levels. It is too early to see impacts, if any, from recent rate cut news. Given timing lags, any benefits would likely be seen mostly in 4Q, which is also facing a relatively tough comp. Regardless, pricing accelerated and inventory stats moderated in August, which should help quell fears that the housing market is seeing substantial deterioration.”