NAR Existing-Home Sales Report Shows 0.2% Decrease in August

Washington, D.C., Sept. 25, 2025 (GLOBE NEWSWIRE) -- 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 homebuyers 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 percent below the national median price.”

National Snapshot

Total Existing-Home Sales for August

0.2% decrease in total existing-home sales[1] month-over-month to a seasonally adjusted annual rate of 4.0 million.
1.8% increase in sales year-over-year.

Inventory in August

1.53 million units: Total housing inventory[2], 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 price[3] for all housing types, up 2.0% from one year ago ($414,200) – the 26^th consecutive month of year-over-year price increases.

Single-Family and Condo/Co-op Sales

Single-Family Homes in August

0.3% decrease in sales to a seasonally adjusted annual rate of 3.63 million, up 2.5% from August 2024.
$427,800: Median home price in August, up 1.9% from last year.

Condominiums and Co-ops in August

No change month-over-month; sales remain at a seasonally adjusted annual rate of 370,000 units, down 5.1% year-over-year.
$366,800: Median price, up 0.6% from August 2024.

Regional Snapshot for Existing-Home Sales in August

Northeast

4.0% decrease in sales month-over-month to an annual rate of 480,000, down 2.0% year-over-year.
$534,200: Median price, up 6.2% from August 2024.

Midwest

2.1% increase in sales month-over-month to an annual rate of 960,000, up 3.2% year-over-year.
$330,500: Median price, up 4.5% from August 2024.

South

1.1% decrease in sales month-over-month to an annual rate of 1.83 million, up 3.4% year-over-year.
$364,100: Median price, up 0.4% from August 2024.

West

1.4% increase in sales month-over-month to an annual rate of 730,000, down 1.4% year-over-year.
$624,300: Median price, up 0.6% from August 2024.

REALTORS^® Confidence Index for August

31 days: Median time on market for properties, up from 28 days last month and 26 days in August 2024.
28% of sales were first-time homebuyers, unchanged from July and up from 26% in August 2024.
28% of transactions were cash sales, down from 31% a month ago and up from 26% in August 2024.
21% of transactions were individual investors or second-home buyers, up slightly from 20% last month and 19% in August 2024.
2% of sales were distressed sales[4] (foreclosures and short sales), unchanged from July and up slightly from 1% in August 2024.

Mortgage Rates

6.59%: The average 30-year fixed-rate mortgage in August, according to Freddie Mac, down from 6.72% in July and 6.50% one year ago.

About the National Association of REALTORS^®
The National Association of REALTORS^® is involved in all aspects of residential and commercial real estate. The term REALTOR^® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS^® and subscribes to its strict Code of Ethics. For free consumer guides about navigating the homebuying and selling transaction processes – from written buyer agreements to negotiating compensation – visit facts.realtor.

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For local information, please contact the local association of Realtors^® for data from local multiple listing services (MLS). Local MLS data is the most accurate source of sales and price information in specific areas, although there may be differences in reporting methodology.
NOTE: NAR’s Pending Home Sales Index for August will be released September 29, and Existing-Home Sales for September will be released October 23. Release times are 10 a.m. Eastern. See NAR’s statistical news release schedule.

Information about NAR is available at nar.realtor. This and other news releases are posted in the newsroom at nar.realtor/newsroom. Statistical data in this release, as well as other tables and surveys, are posted in the “Research and Statistics” tab.

[1] Existing-home sales, which include single-family, townhomes, condominiums and co-ops, are based on transaction closings from Multiple Listing Services. Changes in sales trends outside of MLSs are not captured in the monthly series. NAR benchmarks home sales periodically using other sources to assess overall home sales trends, including sales not reported by MLSs.
Existing-home sales, based on closings, differ from the U.S. Census Bureau’s series on new single-family home sales, which are based on contracts or the acceptance of a deposit. Because of these differences, it is not uncommon for each series to move in different directions in the same month. In addition, existing-home sales, which account for more than 90% of total home sales, are based on a much larger data sample – about 40% of multiple listing service data each month – and typically are not subject to large prior-month revisions.
The annual rate for a particular month represents what the total number of actual sales for a year would be if the relative pace for that month were maintained for 12 consecutive months. Seasonally adjusted annual rates are used in reporting monthly data to factor out seasonal variations in resale activity. For example, home sales volume is normally higher in the summer than in the winter, primarily because of differences in the weather and family buying patterns. However, seasonal factors cannot compensate for abnormal weather patterns.
Single-family data collection began monthly in 1968, while condo data collection began quarterly in 1981; the series were combined in 1999 when monthly collection of condo data began. Prior to this period, single-family homes accounted for more than nine out of 10 purchases. Historic comparisons for total home sales prior to 1999 are based on monthly single-family sales, combined with the corresponding quarterly sales rate for condos.

[2] Total inventory and month’s supply data are available back through 1999, while single-family inventory and month’s supply are available back to 1982 (prior to 1999, single-family sales accounted for more than 90% of transactions and condos were measured only on a quarterly basis).

[3] The median price is where half sold for more and half sold for less; medians are more typical of market conditions than average prices, which are skewed higher by a relatively small share of upper-end transactions. The only valid comparisons for median prices are with the same period a year earlier due to seasonality in buying patterns. Month-to-month comparisons do not compensate for seasonal changes, especially for the timing of family buying patterns. Changes in the composition of sales can distort median price data. Year-ago median and mean prices sometimes are revised in an automated process if additional data is received.
The national median condo/co-op price often is higher than the median single-family home price because condos are concentrated in higher-cost housing markets. However, in a given area, single-family homes typically sell for more than condos as seen in NAR’s quarterly metro area price reports.

[4] Distressed sales (foreclosures and short sales), days on market, first-time buyers, all-cash transactions and investors are from a monthly survey for the NAR’s REALTORS^® Confidence Index, posted at nar.realtor.

National Association of Realtors®
media@nar.realtor

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