Sales of existing homes fell 2.0% in August to a seasonally adjusted annual rate of 3.98 million, the third consecutive monthly decline, according to the National Association of Home Builders' analysis of National Association of Realtors data. It was the lowest sales pace since July 2025, and sales were 1.2% lower than in August 2025.
Mortgage rates climbed to 6.71% last week, the highest level since July 2025. Existing home inventory rose 3.2% in August to 1.62 million units, while homes spent a median of 31 days on the market, up from 29 in July.
The median existing home price was $429,100, up 1.6% from a year ago, and marked the 38th consecutive month of year-over-year increases. NAHB expects recent inventory gains to put downward pressure on resale prices in most markets in 2026.
Regionally, sales fell 4.0% in the Northeast, 3.1% in the Midwest and 1.6% in the South from the previous month, while sales in the West were unchanged.
Read the full report here.
