Kevin Sears President | Official website
Existing-home sales in the United States rose by 1.5% in September, reaching a seasonally adjusted annual rate of 4.06 million, according to the National Association of Realtors (NAR) Existing-Home Sales Report released on October 23, 2025. The report tracks home sales, prices, and inventory levels across the country.
Sales increased month-over-month in the Northeast, South, and West regions but declined in the Midwest. On a year-over-year basis, existing-home sales grew by 4.1%. Regional data show that sales were up year-over-year in the Northeast, Midwest, and South, while remaining unchanged in the West.
NAR Chief Economist Dr. Lawrence Yun commented on these trends: "As anticipated, falling mortgage rates are lifting home sales. Improving housing affordability is also contributing to the increase in sales." He added: "Inventory is matching a five-year high, though it remains below pre-COVID levels. Many homeowners are financially comfortable, resulting in very few distressed properties and forced sales. Home prices continue to rise in most parts of the country, further contributing to overall household wealth."
The total housing inventory at the end of September was 1.55 million units, which is a 1.3% increase from August and a 14% rise compared to September 2024. This represents a 4.6-month supply at the current sales pace.
The national median existing-home price for all housing types was $415,200 in September—an increase of 2.1% from one year ago and marking the 27th consecutive month of year-over-year price growth.
Single-family home sales increased by 1.7% from August to an annual rate of 3.69 million units and were up by 4.5% from September last year. The median single-family home price reached $420,700—a gain of 2.3%. In contrast, condominium and co-op sales remained unchanged both month-over-month and year-over-year at an annual rate of 370,000 units; their median price fell slightly by 0.6% to $360,300.
Regionally:
- In the Northeast: Sales rose by 2.1% month-over-month (annual rate: 490,000), with a median price up by 4.1% to $500,300.
- In the Midwest: Sales decreased by 2.1% (annual rate: 940,000), but prices increased by 4.7% to $320,800.
- In the South: Sales increased by 1.6% (annual rate: 1.86 million), with a median price up by 1.2% to $364,500.
- In the West: Sales jumped by 5.5% (annual rate: 770,000), while prices edged up by just 0.4%, reaching $619,100.
The REALTORS Confidence Index for September indicated that properties typically stayed on the market for a median of 33 days—up from both last month and last year at this time—and that first-time buyers accounted for about one-third of transactions.
Cash purchases made up approximately one-third of all transactions; individual investors or second-home buyers represented about one-sixth; distressed sales remained low at just two percent.
Mortgage rates averaged 6.35% for a conventional fixed-rate loan during September—a decrease from August but higher than rates seen one year ago.
The NAR advises consumers seeking more detailed local information to contact their local association of REALTORS or consult local multiple listing services (MLS), as these provide more specific data on area markets.
