09/11/2025
U.S. existing-home sales rose 2% month-over-month and 0.8% year-over-year to a seasonally adjusted annual rate of 4.01 million units, according to the National Association of REALTORS® (NAR). Economists polled by Reuters had forecast a rate of 3.92 million units. Regionally, sales increased on a monthly basis in the West, South, and Northeast, but declined in the Midwest.
New listings decreased 1.3% for residential homes and 8.1% for townhouse/condo homes. Pending sales decreased 4.8% for residential homes but increased 1.8% for townhouse/condo homes. Inventory decreased 9.1% for residential homes but increased 15.5% for townhouse/condo homes.
Median sales price increased 3.2% to $320,000 for residential homes and 1.9% to $219,000 for townhouse/condo homes. Days on market increased 28% for residential homes and 21.2% for townhouse/condo homes. Months supply of inventory decreased 8% for residential homes but increased 13.8% for townhouse/condo homes.
Nationally, 1.55 million units were listed for sale heading into August, up 0.6% from the previous month and 15.7% higher than the same time last year, representing a 4.6-month supply at the current sales pace, according to NAR. Inventory is now at its highest level since May 2020, a shift that has helped slow price growth in many markets. As a result, the national median existing-home sales price edged up just 0.2% year-over-year to $422,400.
