US Existing-Home Sales Slip in August

On Thursday, the National Association of Realtors (NAR) reported that total existing-home sales—completed transactions for single-family homes, townhomes, condominiums, and co-ops—fell 0.2% in August to a seasonally adjusted annual rate (SAAR) of 4.0 million. Year-over-year, sales were up 1.8%.

By region, sales rose month-over-month in the Midwest and West but declined in the Northeast and South. Compared to a year ago, sales increased in the Midwest and South and fell in the Northeast and West.

Total housing inventory at the end of August was 1.53 million units, down 1.3% from July but up 11.7% from 1.37 million in August 2024. At the current sales pace, unsold inventory sits at a 4.6-month supply, unchanged from July but up from 4.2 months a year earlier.

The median existing-home price for all housing types was $422,600 in August, a 2.0% increase from $414,200 a year ago. This marked the 26th consecutive month of year-over-year price gains.

According to NAR’s monthly REALTORS Confidence Index, properties typically remained on the market for 31 days in August, compared to 28 days in July and 26 days a year earlier.