US existing home sales lasts 0.2% in August
Darn’s report Showed regional differences as sales rose in the midwest and the west, but dropped in the northeast and south.
“Record -high housing power and a record -high stock market will help the current homeowners to improve the top of the market,” Yun said. “However, the sale of affordable houses is limited by the lack of inventory. The Midwest was the best -performing region last month, mainly due to relatively affordable market conditions. The median house price in the midwest is 22% below the national median price.”
Revival in the fourth quarter?
Jason Waugh, president of Coldwell Banker Affiliatessaid that the fourth quarter of 2025 could end in a top season of home sales.
“While the summer is traditionally considered the high season for buying houses, Q4 arose last year as the most active period, driven by falling mortgage interest in Q3,” Waugh said in a statement. “Buyers and sellers who now enter the market until the end of the year are highly motivated. Navigating through seasonal changes such as school schedules, bad weather and holiday obligations, show serious intention.”
Waugh noted that sellers who keep their houses ready for impressions remain dedicated, even when the mortgage interest rate reaches their lowest point of the year and attracts more buyers on the market.
The total home inventory amounted to 1.53 million units, a fall of 1.3% compared to July, but an increase of 11.7% compared to August 2024. That represents a stock of 4.6 months in the current sales pit, unchanged from July and a year earlier than the 4.2-month offer a year earlier.
“Although the inventory is nationally, the pace of new entries slows down, which can again give the scales between the buyer’s demand and the available supply,” said Waugh.
In the northeast, sales fell by 4% from July to an annual rate of 480,000, a decrease of 2% compared to a year earlier. The median price in the region climbed 6.2% to $ 534,200. The Midwest saw sales increase by 2.1% to 960,000, a profit of 3.2% compared to a year ago. The median price in the midwest was $ 330,500, an increase of 4.5% compared to August.
In the south, sales fell 1.1% to 1.83 million, but rose 3.4% years after year. The median price in the region was $ 364,100, an increase of 0.4%. In the West, sales rose by 1.4% to 730,000, but fell by 1.4% compared to August 2024. The median price was $ 624,300, an increase of 0.6% compared to a year earlier.
The turnover of single -family homes fell 0.3% to 3.63 million, but was still 2.5% higher than a year ago. The median price for single -family homes was $ 427,800, an increase of 1.9% in the past year. Condominium and Cooperative turnover kept stable at 370,000, a decrease of 5.1% compared to August 2024. The Median Condo price was $ 366,800, an increase of 0.6%.
Houses usually spent a 31 -day median on the market in August, an increase of 28 in July. First buyers accounted for 28% of sales, unchanged compared to July, while All-cash deals were good 28% and investors were 21%. Loss turnover was held at 2%.
The average 30-year-old mortgage with fixed interest rate fell to 6.59% in August, a decrease of 6.72% in July, according to Freddie Mac facts. A year ago the average rate was 6.50%.
Transition or emergency situation?
Clear MLS Chief economist Lisa Sturtevant wondered if the report of Nar is the market strength “exaggerated”. Although the trade group reported that the turnover year after year increased by 1.8% on a seasonal basis, Sturtevant said that the actual turnover had fallen by 0.8% to their lowest level for August in at least a decade.
Sturtevant noted that reported sales contracts reflected 30 to 60 days earlier, before the recent falls of the mortgage interest rate fall. “It can be too early to say if falling mortgage interest rates put more buyers forward,” she noticed.
The housing market has been delayed for more than two years, first due to a low inventory and more recently due to high mortgage interest and affordability problems. Sturtevant said that the recession also reflects the normal market cycles after a few years of above -average sales.
Sturtevant warned that slow sales can harm the mobility of households and economic growth by limiting opportunities to relocate for jobs or other needs.
“Is this period of 2 ½ years of the under -average housing sale a ‘home emergency’? Or are we in a transitional period in which the pendulum from housing sale is waved to one side and now to the other, and we will go back to normal the following year or two?” she asked.
