Existing-home sales in the U.S. fell 2.0% month-over-month in August and 1.2% year-over-year to a seasonally adjusted annual rate of 3.98 million, according to the National Association of Realtors. Sales held steady in the West and declined in the Northeast, Midwest and South from July. Compared with August 2025, sales were unchanged in the South and declined in the Northeast, Midwest and West.

Total housing inventory rose 3.2% from July to 1.62 million units in August, up 5.9% from a year earlier. This was the first time since November 2019 that inventory exceeded 1.6 million units. The supply of unsold homes increased to 4.9 months from 4.6 months in July and 4.6 months in August 2025. The August level was the highest in more than ten years.

The median existing-home price for all housing types was $429,100, up 1.6% from $422,400 a year earlier. Prices have increased year-over-year for 38 consecutive months. 

The Housing Affordability Index reached 104.7, compared with 101.2 a year earlier. Affordability improved year-over-year in all four regions, rising 0.5% in the Northeast, 1.7% in the Midwest, 4.5% in the South and 5.9% in the West.

Single-family home sales fell 1.9% from July to a seasonally adjusted annual rate of 3.62 million, down 1.1% from August 2025. The median single-family home price was $434,800, up 1.7% from a year earlier. Condominium and co-op sales declined 2.7% month-over-month to a seasonally adjusted annual rate of 360,000, down 2.7% from August 2025. The median price was $371,600, up 1.5% from a year earlier.

In the Northeast, sales fell 4.0% from July to an annual rate of 480,000 and declined 2.0% from August 2025. The median price was $556,900, up 4.3% year-over-year. Midwest sales decreased 3.1% month-over-month to an annual rate of 940,000 and fell 2.1% year-over-year. The median price was $340,400, up 3.3% from August 2025.

South sales declined 1.6% from July to an annual rate of 1.84 million and were unchanged from August 2025. The median price was $366,500, up 0.7% year-over-year. West sales were unchanged month-over-month at an annual rate of 720,000 and declined 2.7% from August 2025. The median price was $619,100, down 0.2% year-over-year.