Latest News Stream - Existing Home Sales

Existing home sales in the United States rose by 1.5% from the two-year low in the previous month to a seasonally adjusted annualized rate of 3.99 million units in September of 2026, not too far from market expectations of 3.95 million. Total housing inventory reached 1.6 million units with the increase, 1.9% higher than the previous month to represent 4.8 months of supply under the latest sales rate. Sales recovered slightly in the South (2.8% to 1.86 million) and the West (2.8% to 0.73 million), offsetting a drop in the Northeast (-2.1% to 0.47 million) and a stall in the Midwest (at 0.93 million). “Despite the small monthly gain on a seasonally adjusted basis, August and September marked the two slowest months for home sales this year,” said NAR Chief Economist Lawrence Yun. “Further increases in mortgage rates in recent weeks mean fewer buyers can qualify to purchase a home.”

Existing home sales in the United States fell by 2.0% from the previous month to a seasonally adjusted annualized rate of 3.98 million units in August of 2026, aligned with market expectations. It follows a 1.7% decline in the previous months. Existing home sales declined in the Northeast (-4.0%), Midwest (-3.1%), and South (-1.6%) regions while sales were relatively unchanged in the West. Total housing inventory increased 3.2% to 1.62 million units and the median price was $429,100 for all housing types, a 1.6% increase from last year. “Mortgage rates and home sales move in opposite directions, so it's not surprising to see a mild dip in home buying activity due to high mortgage rates,” said NAR Chief Economist Lawrence Yun. Mortgage rates measured by leading mortgage providing institutions continued to rise through the period as soaring energy costs and ample corporate debt supply lifted longer-maturity yields.

Existing home sales in the United States fell by 1.7% from the previous month to a seasonally adjusted annualized rate of 4.05 million units in July of 2026, relatively close to market expectations of 4.06 million. It follows a 1.4% decline in the previous month. Existing home sales declined in the South (-3.1%) and Midwest (-2%) regions while sales were relatively unchanged in the West, offsetting the 2% increase in the Northeast. Total housing inventory decreased 1.9% to 1.54 million units and the median price was $434,100 for all housing types, a 2% increase from last year. “Home sales have been remarkably stable, even amid the rising mortgage rate environment of the past few months,” said NAR Chief Economist Lawrence Yun. “Year-to-date sales are up 2.4% and there’s no doubt that the housing market would be thriving if average mortgage rates were to return near 6%”.

Existing home sales in the United States fell by 2.4% from the previous month to a seasonally adjusted, annualized rate of 4.09 million units in June of 2026, firmly below expectations that they would hold steady at 4.20 million. Sales fell in the South (-3.6% to 1.89 million), the Midwest (-3.0% to 0.98 million), and the West (-1.3% to 0.74 million), offsetting an increase in the Northeast (2.1% to 0.48 million). With the last sales results, inventory fell by 0.6% to 1.56 million units, equivalent to 4.6 months of supply. Meanwhile, the average price of existing home sales rose by 1.8% from the previous year to $440,600, the most in over one year.

Existing home sales in the United States fell by 3.6% from the previous month to an annualized rate of 3.98 million in March of 2026, the lowest in nine months and missing market expectations of 4.06 million units. Inventory levels inched higher from the previous month to 1.36 million, equivalent to 4.1 months of supply at the latest sales rate, although both the level and sales ratio remain well below the historical average. Meanwhile, the median sales price of existing homes were 1.4% higher from the previous year at $408,800, the highest since November. According to NAR Chief Economist Dr. Lawrence Yun. “March home sales remained sluggish and below last year’s pace. Lower consumer confidence and softer job growth continue to hold back buyers. Because inventory remains limited, the median home price rose to a new record high for the month of March. That price growth has helped the typical homeowner accumulate $128,100 in housing wealth over the past six years.”

Existing home sales in the United States rose by 1.7% from the previous month to an annualized rate of 4.09 million in February of 2026, ahead of market expectations that they would fall to 3.89 million. Despite the rebound, unsold inventory rose by a sharper 2.4% to a total of 1.29 million, which is equivalent to 3.8 months of supply at the latest sales rate. Sales price of existing homes inched higher by 0.3% from the previous year to $398,000, despite the drop in mortgage rates since the period. “Housing affordability is improving, and consumers are responding,” said NAR Chief Economist Dr. Lawrence Yun. “Still, there is a long way to go to return to pre-pandemic levels of transaction activity. There are more than 6 million more jobs than in 2019, yet home sales per year are down by one million. Despite the modest gain in home sales, actual housing demand remains muted relative to wage growth and job gains.”

Existing home sales in the United States rose by 2% from the previous month to a seasonally-adjusted annualized rate of 4.01 million in July of 2025, the sharpest increase since February, and above market expectations of a 3.92 million rate. Despite the increase in sales, housing inventory rose by 0.6% from the pervious month to 1.55 million units, which is equivalent to 4.6 months of unsold inventory. Also, median prices of existing home sales inched 0.2% higher from one year ago to $422,400. "The ever-so-slight improvement in housing affordability is inching up home sales," said NAR Chief Economist Lawrence Yun. "Wage growth is now comfortably outpacing home price growth, and buyers have more choices. Condominium sales increased in the South region, where prices had been falling for the past year."

Existing home sales in the US rose by 0.8% from the previous month to a seasonally adjusted annualized rate of 4.03 million in May of 2025, rebounding from the 0.5% drop in the previous month, and above market expectations of a drop to 3.96 million units sold. Sales were higher in the Northeast (4.2%), Midwest (2.1%), and South (1.7%), offsetting the drop in the West (-5.4%). Meanwhile, the median sales price for existing homes was at $422,800. According to NAR Chief Economist Lawrence Yun, "The relatively subdued sales are largely due to persistently high mortgage rates. Lower interest rates will attract more buyers and sellers to the housing market. Increasing participation in the housing market will increase the mobility of the workforce and drive economic growth."

Existing home sales in the US declined 0.5% mom to a seasonally adjusted rate of 4.00 million in April 2025, the lowest in seven months, compared to 4.020 million in March and forecasts of 4.1 million, restrained by high mortgage rates. Sales dipped in the Northeast (-2%) and West (-3.9%), grew in the Midwest (2.1%) and were unchanged in the South. Total housing inventory was 1.45 million units, up 9% from March. The median existing-home price for all housing types was $414,000, up 1.8% from one year ago. "Home sales have been at 75% of normal or pre-pandemic activity for the past 3 years, even with 7 million jobs added to the economy. Pent-up housing demand continues to grow, though not realized. Any meaningful decline in mortgage rates will help release this demand. At the macro level, we are still in a mild seller's market. But with the highest inventory levels in nearly 5 years, consumers are in a better situation to negotiate for better deals", said NAR Chief Economist Yun.

Existing home sales in the US slumped by 5.6% from the previous month to a seasonally adjusted annualized rate of 4.02 million units in March of 2025, missing market expectations of 4.13 million to mark the sharpest decline in over two years. The drop took place despite the slight pullback in benchmark borrowing costs in the period, which increased the volume of mortgage applications. According to NAR Chief Economist Lawrence Yun, "Home buying and selling remained sluggish in March due to the affordability challenges associated with high mortgage rates. Residential housing mobility, currently at historic lows, signals the troublesome possibility of less economic mobility for society."