Correction: August US Existing Home Sales Decline Less Than Expected

03:00 PM EDT, 09/25/2025 (MT Newswires) -- (Resending Story to Correct Headline Clarifying That Sales Declined Less Than Expected)

The pace of US existing home sales fell by 0.2% to a 4.00 million seasonally adjusted annual rate in August from 4.01 million in July, compared with a larger expected decrease to a 3.95 million rate in a survey compiled by Bloomberg as of 7:35 am ET, data from the National Association of Realtors released Tuesday showed.

Total sales were still up 1.8% from a year earlier.

"Home sales have been sluggish over the past few years due to elevated mortgage rates and limited inventory," National Association of Realtors Chief Economist Lawrence Yun said. "However, mortgage rates are declining and more inventory is coming to the market, which should boost sales in the coming months."

Sales of single-family homes were down 0.3%, while condominium sales held steady.

Sales were up in the West and Midwest regions of the country compared with the previous month but fell in the South and Northeast regions. Sales increased in the South and Midwest regions from a year earlier but decreased in the Northeast and West regions.

Homes remained on the market an average of 31 days, up from 28 days in July and 26 days a year ago.

The supply of homes for sale decreased to 1.53 million homes in August from 1.55 million in July but were up 11.7% from the 1.37 million level a year ago.

The month supply on the market remained at 4.6 months but was above the 4.2 months supply a year ago.

The median home price increased to $422,600 from $425,700 in July, up 2% from $414,200 one year ago.

The monthly existing home sales report from the National Association of Realtors measures sales of single-family and multi-family homes for resale at the time of closing, including the number of existing homes available and the median sales price. A strong reading is a positive sign for mortgage lenders and related consumer product companies.

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