Existing-Home Market Holds Steady Despite 2.0% Dip in August

Existing-home sales fell 2.0% month-over-month and 1.2% year-over-year to a 3.98 million annual rate, the lowest since June 2025. Inventory rose 3.2% to 1.62 million units, the highest since 2019, with a 4.9-month supply. Median home prices increased 1.6% year-over-year to $429,100, marking 38 consecutive months of price gains. Affordability improved across all regions despite sales declines in most areas.