U.S. existing‑home sales fell 2% in August to a seasonally adjusted annualized
pace of 3.98 million units, the slowest since June 2025 and matching that
month’s pace, the National Association of Realtors said. The median
existing‑home price rose 1.6% YoY to $429,100. Homes available for sale
increased to 1.62 million units, the first time above 1.6 million since November
2019. NAR chief economist Lawrence Yun said mortgage rates move inversely with
sales, adding that high rates have modestly reduced buying activity. Opendoor
CEO Kaz Nejatian described the final two weeks of August as among the worst
housing‑market stretches his firm has seen.
