Existing home sales in the United States declined 2.0% in August 2026 from the previous month, to a seasonally adjusted annualized rate of 3.98 million units, in line with market expectations. This followed a 1.7% decrease in the prior month. Regionally, sales fell in the Northeast (-4.0%), Midwest (-3.1%), and South (-1.6%), while remaining largely unchanged in the West.
Total housing inventory rose 3.2% to 1.62 million units. The median price for all housing types reached $429,100, up 1.6% from a year earlier. “Mortgage rates and home sales move in opposite directions, so it's not surprising to see a mild dip in home buying activity due to high mortgage rates,” said NAR Chief Economist Lawrence Yun.
Mortgage rates, as reported by leading mortgage providers, continued to climb over the period, as surging energy costs and a substantial supply of corporate debt pushed longer-term yields higher.
