Existing-home sales in the United States declined slightly by 0.2% in August compared to July, reaching a seasonally adjusted annual rate of 4.0 million, according to the National Association of Realtors (NAR) Existing-Home Sales Report released on September 25, 2025. The report provides data on home sales levels, prices, and inventory for real estate professionals and consumers.
Compared to August 2024, existing-home sales increased by 1.8%. The national median existing-home price rose by 2.0% year-over-year to $422,600, marking the 26th consecutive month of annual price increases.
NAR Chief Economist Lawrence Yun commented on current market conditions: "Home sales have been sluggish over the past few years due to elevated mortgage rates and limited inventory. However, mortgage rates are declining and more inventory is coming to the market, which should boost sales in the coming months."
Yun also addressed trends affecting different segments of the market: "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. 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."
Inventory levels stood at 1.53 million units in August, down 1.3% from July but up nearly 12% from one year ago. This represents a 4.6-month supply at the current pace of sales.
Regionally, month-over-month sales increased in both the Midwest (up 2.1%) and West (up 1.4%), while falling in the Northeast (down 4%) and South (down 1.1%). Year-over-year results showed growth in the Midwest and South but declines in other regions.
Median prices varied across regions: $534,200 in the Northeast (up 6.2%), $330,500 in the Midwest (up 4.5%), $364,100 in the South (up 0.4%), and $624,300 in the West (up 0.6%).
Sales of single-family homes decreased by 0.3% from July but were up by 2.5% year-over-year; their median price reached $427,800—an increase of almost two percent over last year’s figure.
Condominium and co-op transactions remained unchanged from July but fell by just over five percent compared with August last year; their median price was $366,800.
The REALTORS Confidence Index indicated that properties spent a median of 31 days on market during August—an increase from both July’s figure and one year ago—and that first-time buyers accounted for about one-quarter of all purchases.
Cash transactions made up approximately one-quarter of all deals as well; distressed sales such as foreclosures or short sales represented only two percent.
The average rate for a conventional fixed-rate mortgage was reported at 6.59%, down slightly from July but close to its level one year earlier.
For additional information or local statistics on home buying or selling activity—including resources for navigating transactions—consumers can visit facts.realtor.
