Research and Statistics

Existing-home sales remained essentially the same in August 2025, falling 0.2% from July. Month-over-month sales increased in the Midwest and West, and fell in the Northeast and South. Year-over-year, sales rose in the Midwest and South, and fell in the Northeast and West. “Home sales have been sluggish over the past few years due to elevated mortgage rates and limited inventory. However, mortgage rates are declining and more inventory is coming to the market, which should boost sales in the coming months,” says NAR Chief Economist Lawrence Yun.

In July 2025, month-over-month pending sales declined in the Northeast and Midwest, held essentially flat in the South, and rose in the West. Year-over-year, sales decreased in the Northeast and West but increased in the Midwest and South. According to NAR Chief Economist Lawrence Yun, “Even with modest improvements in mortgage rates, housing affordability, and inventory, buyers still remain hesitant. Buying a home is often the most expensive purchase people will make in their lives. This means that going under contract is not a decision homebuyers make quickly. Instead, people take their time to ensure the timing and home are right for them.”