A sold sign is posted in front of a home for sale on Aug. 27, 2025 in San Francisco, California.
Justin Sullivan | Getty Images
Sales of previously owned homes were essentially flat in August, coming in 4 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors. That is a 0.2% drop from July and an increase of 1.8% from August of last year. Sales were strongest in the Midwest and weakest in the Northeast.
This count is based on closings, so people signing their deals in June and July, when mortgage rates were about 50 basis points higher than they are today. Rates began dropping sharply at the start of September, which would not figure into these numbers. Â
The upper end of the market is moving better than the lower end. Sales of homes priced below $100,000 dropped more than 10% from a year ago. Sales of homes priced above $1 million gained 8% year over year, the top performer.
This story is developing. Please check back for updates.
