Each month, the Research Update report provides a summary of the data, reports, blog posts, and instant reactions produced by NAR's research team.
Data
Existing-Home Sales
Existing-home sales remained essentially the same in August, ticking down by 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.
Pending Home Sales
Pending home sales in August increased by 4.0% from the prior month and rose 3.8% year-over-year. Pending sales rose month-over-month in the Midwest, South, and West, and declined in the Northeast. Year-over-year, sales increased in all regions.
Housing Affordability Index
The housing affordability index rose slightly to 98.8 in July from 95.0 in June. An index above 100 means that a family with a median income has more than the income required to afford a median-priced home.
REALTORS® Confidence Index
Days on market lengthened to 31 days. Number of offers on a listed home rebounded to 2.5. Investors jumped to the highest level last seen in February 2024.
Metro Market Statistics Dashboard
Use the data visualization to get your local area's most recent housing, demographic, economic, and affordability statistics—login required.
How REALTORS® Can Use This
REALTORS® can use existing-home sales and pending home sales data to gauge current demand trends and anticipate market shifts. They can also utilize the affordability and quarterly data to identify pricing patterns and assess buyer capacity across different regions to adapt strategies for their clients.
Videos
- Ask the Economist: What Will Happen to Mortgage Rates if Fannie Mae and Freddie Mac Go Public?
- Ask the Economist: How Will VantageScore 4.0 Impact Mortgages?
- Ask the Economist: How Does the Current Market Compare to the 2008 Housing Market Crash?
How REALTORS® Can Use This
“Ask the Economist” is a new video series that gives REALTORS® a quick, easy-to-digest update straight from NAR’s Research Team on new economic trends and market activity. REALTORS® can use this in listing appointments to show buyers/sellers they’re up-to-date on interest rates, housing inventory, etc.; buyer consultations to explain why now might be a good time to act or wait based on real data; email follow-ups: “Here’s what NAR’s latest economist update says about local trends.”
Reports
- August 2025 Commercial Real Estate Market Insights
- Residential Real Estate Market Snapshot
- Highlights from the NAR Member Profile (member login required)
How REALTORS® Can Use This
REALTORS® can leverage NAR reports to provide clients with data-driven insights on specific market conditions and equip themselves with important knowledge about the market. This empowers members to assist buyers and sellers in making informed decisions regarding timing, pricing, and location.
Articles on the Economy
- Mi Casa, Mi Future: Exploring the Path to Hispanic Homeownership
- Tracking Unemployment Insurance Claims, Week of September 6, 2025
- Foreign Investment in the US: Growing, but Slower
Instant Reactions
How REALTORS® Can Use This
REALTORS® can use the Economists’ Outlook blog to stay updated on experts’ commentary, economic forecasts, housing market outlooks, and regional trends, and then use these insights to help clients on timing purchases or sales based on anticipated market movement. By sharing analysis of the housing market and translating it into consumer-friendly guidance, agents can build credibility and empower their clients to navigate the housing market with confidence.