U.S. home sales dipped in August, falling 1.6% from August 2024 and 5.5% from July 2025. The slowdown coincided with the end of a 17-month streak of year-over-year growth in new listings, which dropped 5.9% year over year and 9.2% month over month.

Despite the drop in sales activity, inventory remained 24.4% higher than one year ago, although it eased down 0.4% from July. At the same time, the Median Sales Price rose 1.9% year over year to $448,000, marking the 26^th consecutive month of annual price gains. Home prices have not declined year over year since June 2023. Month over month, however, prices slipped 0.6%, or $2,500.

Homes lingered on the market an average of 47 days in August—up eight days from a year ago and three days longer than July—according to data from the 51 metro areas surveyed.

“Housing market activity has recently been influenced by seasonal shifts and broader economic forces,” said Erik Carlson, CEO of RE/MAX Holdings, Inc. “While affordability remains a challenge in many areas, despite some recent improvements in mortgage rates, opportunities persist—especially in markets where prices have stabilized or inventory has improved. Buyers and sellers who stay informed and work with experienced agents are best positioned to navigate today’s market.”

Other metrics of note:

• 2025 home sales have trailed 2024 levels in five of the first eight months of the year.
• Months’ Supply of Inventory remained at 2.8 months, the same as July and higher than the 2.3 months recorded in August 2024.
• Buyers paid an average of 99% of the asking price in August, the same as July 2025 and August 2024.
  
  

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