US existing home sales drop to 14-month low in August
Mortgage rates and record home prices kept buyers on the sidelines as the National Association of Realtors said sales fell for a third straight month.
- Existing home sales fell 2% in August to a seasonally adjusted annual rate of 3.98 million units, the National Association of Realtors reported Thursday. This marks the slowest pace since June 2025.
- Rising mortgage rates continue suppressing buyer demand, as the 30-year benchmark rate surged to 6.71% last week—its highest level in more than a year. Rates have climbed amid inflation concerns following the war with Iran.
- Despite weakening sales, housing inventory rose 3.2% to 1.62 million units, while the median home price climbed 1.6% year-over-year to $429,100. Homes are staying on market longer, averaging 31 days versus 29 in July.
- First-Time buyers accounted for 30% of August sales, up slightly from July, while investor and second-homebuyer activity declined sharply to 15%, down from 21% a year ago. Market composition shifted as affordability pressures intensified.
- Through the first eight months of 2026, existing home sales remain 1.6% higher than the same period in 2025, according to Lawrence Yun, chief economist for the Realtors. Sales have hovered near 4 million annually since 2023.
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49 Articles
US home sales weaken to slowest pace in more than a year as mortgage rates, home prices climb - WXXV News 25
By ALEX VEIGA Sales of previously occupied U.S. homes declined in August to their slowest annual pace in more than a year as home shoppers grappled with rising mortgage rates and home prices. Existing home sales fell 2% last month from July to a seasonally adjusted annual rate of 3.98 million units, the National Association of Realtors said Thursday. This is the third straight monthly decline. Sales also fell 1.2% compared with August last yea…
US home sales weaken to slowest pace in more than a year as mortgage rates, home prices climb - Regional Media News
Sales of previously occupied U.S. homes declined in August to their slowest annual pace in more than a year as home shoppers grappled with rising mortgage rates and home prices. Existing home sales fell 2% last month from July to a seasonally adjusted annual rate [...]
MONEY & BUSINESS: US home sales weaken to slowest pace in more than a year as mortgage rates, home prices climb – One America News Network
By ALEX VEIGAUpdated 7:24 AM PDT, September 10, 2026 Luxury homes are under construction in a subdivision, May 22, 2007 in New Albany, Ohio. Sales of previously occupied U.S. homes declined in August to their slowest annual pace in more than a year as home shoppers grappled with rising mortgage rates and home prices. Existing home sales fell 2% last month from July to a seasonally adjusted annual rate of 3.98 million units, the National Associat…
US existing home sales hit weakest pace in over a year
Sales of previously owned homes in the United States slowed last month to their weakest pace in more than a year, as would-be buyers waited for relief on mortgage rates before purchasing. Contract closings slipped 2 per cent to an annualised rate of 3.98 million in August, data released on Thursday by the National Association of Realtors showed. Last month marked one of only two times since the autumn of 2024 that sales have dipped below 4 milli…
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