Existing-home sales decreased by 2.0% month over month and 1.2% year over year, according to the National Association of REALTORS® (NAR) Existing-Home Sales Report. The report provides the real estate ecosystem—including agents, homebuyers, and sellers—with data on the level of home sales, price, and inventory.
Month-over-month sales held steady in the West and declined in the Northeast, Midwest, and South. Year-over-year sales were unchanged in the South and declined in the Northeast, Midwest, and West.
“Mortgage rates and home sales move in opposite directions, so it’s not surprising to see a mild dip in homebuying activity due to high mortgage rates,” said NAR Chief Economist Lawrence Yun. “Still, home prices are rising, and existing-home sales are actually up 1.6% year-to-date through the first eight months of the year.
“Homebuying demand, despite higher interest rates, is no doubt being supported by rising wages, which grew 3.1% in August, along with 643,000 net new jobs added since the start of the year. Job creation and wage growth typically drive housing demand.”
Yun also pointed to growth in the availability of houses on the market. “The number of months it would take to exhaust the total inventory at the current sales pace has grown to 4.9 months’ supply—its highest level in over ten years,” he explained. “The ample supply of homes for sale on the market is giving homebuyers better opportunities to negotiate.”
National Snapshot for August
Total existing-home sales
- 2.0% decrease month over month
- 1.2% decrease year over year to a seasonally adjusted annual rate of 3.98 million
- The last time sales activity fell below 4.0 million was in June 2025.
Inventory
- 1.62 million units (total housing inventory), up 3.2% from July and up 5.9% from August 2025
- This was the first time since November 2019 that inventory exceeded 1.6 million units.
- 4.9-months’ supply of unsold inventory, up from 4.6 months in July and 4.6 months in August 2025
Costs
- Median sales price: $429,100 (for all housing types), a 1.6% increase from one year ago ($422,400)—the 38th consecutive month of year-over-year price increases
- Average 30-year fixed-rate mortgage: 6.67%, according to Freddie Mac, up from 6.54% in July and up from 6.59% one year ago
Housing affordability
- The Housing Affordability Index registered at 104.7, up from 101.2 a year ago.
- Year over year, affordability improved across all regions: Northeast +0.5%, Midwest +1.7%, South +4.5%, West +5.9%.
Single-family and condo/co-op sales
Single-family homes
- 1.9% decrease month over month to a seasonally adjusted annual rate of 3.62 million, down 1.1% from August 2025
- Median home price: $434,800, up 1.7% from last year
Condominiums and co-ops
- 2.7% decrease in sales month over month to a seasonally adjusted annual rate of 360,000, down 2.7% from last year
- Median price: $371,600, up 1.5% from August 2025
Regional Snapshot for August
Northeast
- 4.0% decrease in sales month over month to an annual rate of 480,000, down 2.0% from August 2025
- Median price: $556,900, up 4.3% from August 2025
Midwest
- 3.1% decrease in sales month over month to an annual rate of 940,000, down 2.1% year over year
- Median price: $340,400, up 3.3% from August 2025
South
- 1.6% decrease in sales month over month to an annual rate of 1.84 million, unchanged from August 2025
- Median price: $366,500, up 0.7% from August 2025
West
- Sales unchanged month over month at an annual rate of 720,000, down 2.7% year over year
- Median price: $619,100, down 0.2% from August 2025
REALTORS® Confidence Index for August
- Median time on market for properties: 31 days, up from 29 days last month, unchanged from August 2025
- First-time homebuyers: 30% of sales, up from 29% in July and up from 28% one year ago
- Cash sales: 27% of transactions, up from 26% last month, down from 28% in August 2025
- Individual investors or second-home buyers: 15% of transactions, up from 14% last month, down from 21% one year ago
- Distressed sales (foreclosures and short sales): 2% of sales, unchanged from last month and from one year ago
About the National Association of REALTORS®
The National Association of REALTORS® (NAR) 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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