Kevin Sears President | Official website
Existing-home sales in the United States increased by 2.0% in July, reaching a seasonally adjusted annual rate of 4.01 million units, according to the National Association of Realtors (NAR) Existing-Home Sales Report released on August 21, 2025. This report provides information on home sales levels, prices, and inventory for real estate professionals and consumers.
The data showed that sales grew month-over-month in the Northeast, South, and West regions but declined in the Midwest. Year-over-year comparisons revealed increases in the South, Northeast, and Midwest, with a decrease noted in the West.
"The ever-so-slight improvement in housing affordability is inching up home sales," said NAR Chief Economist Lawrence Yun. "Wage growth is now comfortably outpacing home price growth, and buyers have more choices. Condominium sales increased in the South region, where prices had been falling for the past year."
Yun also commented on overall market conditions: "Near-zero growth in home prices suggests that roughly half the country is experiencing price reductions. Overall, homeowners are doing well financially. Only 2% of sales were foreclosures or short sales – essentially a historic low. The market's health is supported by a cumulative 49% home price appreciation for a typical American homeowner from pre-COVID July 2019 to July this year."
He added: "Homebuyers are in the best position in more than five years to find the right home and negotiate for a better price. Current inventory is at its highest since May 2020, during the COVID lockdown."
Nationally, total existing-home sales rose by 0.8% compared to July last year. Inventory reached 1.55 million units at the end of July—a slight increase from June and about 15.7% higher than one year ago—representing a 4.6-month supply at the current pace of sales.
The median existing-home price for all housing types was $422,400 in July, an increase of 0.2% from one year earlier; this marks the twenty-fifth consecutive month of year-over-year price gains.
Sales of single-family homes rose by 2.0% month-over-month to an annual rate of 3.64 million units—up by 1.1% from last year—with a median sale price of $428,500 (up by 0.3%). Condominium and co-op transactions climbed by 2.8% month-over-month to an annual rate of 370,000 units but fell by 2.6% compared to July last year; their median price was $362,600 (down by 1.2%).
Regionally:
- The Northeast saw an increase of 8.7% month-over-month (annual rate: 500,000), up by 2% over last year; median price: $509,300.
- In the Midwest, sales dropped by 1.1% from June but rose by 1.1% annually (annual rate: 940,000); median price: $333,800.
- The South experienced a monthly rise of 2.2%, with annual gains also at that level (annual rate: 1.85 million); median price: $367,400.
- The West posted a monthly gain of 1.4%, though down annually by four percent (annual rate:720,000); median price: $620,700.
According to NAR’s REALTORS Confidence Index for July:
- Properties typically remained on market for a median period of twenty-eight days.
- First-time buyers accounted for twenty-eight percent of transactions.
- Cash purchases made up thirty-one percent.
- Individual investors or second-home buyers represented twenty percent.
- Distressed transactions such as foreclosures or short sales comprised two percent.
Freddie Mac reported that average rates for thirty-year fixed mortgages stood at six point seven two percent during July—lower than both June and one year ago.
The National Association of Realtors represents professionals involved across residential and commercial real estate sectors nationwide.
Upcoming releases include NAR's Pending Home Sales Index for July on August 28 and Existing-Home Sales data for August scheduled for September 23.
