Sunday, September 28, 2025
NAR Existing-Home Sales
Report shows 0.2% decrease in August
Existing-home sales remained essentially the same in August, ticking down by 0.2% from July, according to the National Association of Realtors
Existing-Home Sales Report. The Report provides the real estate ecosystem, including agents and homebuyers and sellers, with data on the level of home sales, price and inventory.
Month-over-month sales increased in the Midwest and West and fell in the Northeast and South. Year-over-year, sales rose in the Midwest and South and fell in the Northeast and West.
“Home sales have been sluggish over the past few years due to elevated mortgage rates and limited inventory,” said NAR Chief Economist Lawrence Yun. “However, mortgage rates are declining and more inventory is coming to the market, which should boost sales in the coming months.”
“Record-high housing wealth and a record-high stock market will help current homeowners trade up and benefit the upper end of the market. However, sales of affordable homes are constrained by the lack of inventory,” Yun added. “The Midwest was the bestperforming region last month, primarily due to relatively affordable market conditions. The median home price in the Midwest is 22% below the national median price.”
NATIONAL SNAPSHOT
Total Existing-Home Sales for August
• 0.2% decrease in total existinghome sales month-over-month to a seasonally adjusted annual rate of4.0 million.
• 1.8% increase in sales yearover-year.
Inventory in August
• 1.53 million units: Total housing inventory, down 1.3% from July and up 11.7% from August 2024 (1.37 million).
• 4.6-month supply of unsold inventory, no change from July and up from 4.2 months in August 2024.
Median Sales Price in August
$422,600: Median existing-home price for all housing, up 2.0% from one year ago
($414,200) — the 26th consecutive month of year-over-year increases.
SINGLE-FAMILY AND CONDO/CO-OP SALES
Single-Family Homes in August
• 0.3% decrease in sales to a seasonally adjusted annual rate of 3.63 million, up 2.5% from August 2024.
• $427,800: Median home price in August, up 1.9% from last year.
Condominiums and Co-ops in August
• No change month-over-month; sales remain at a seasonally adjusted annual rate of 370,000 units, down 5.1% yearover-year.
• $366,800: Median price, up 0.6% from August 2024.
REGIONAL SNAPSHOT FOR EXISTING-HOME SALES IN AUGUST
Northeast
• 4.0% decrease in sales month-overmonth to an annual rate of 480,000, down 2.0% year-over-year.
• $534,200: Median price, up 6.2% from August 2024.
Midwest
• 2.1% increase in sales month-overmonth to an annual rate of 960,000, up 3.2% year-over-year.
• $330,500: Median price, up 4.5% from August 2024.
South
• 1.1% decrease in sales month-overmonth to an annual rate of 1.83 million, up 3.4% year-over-year.
• $364,100: Median price, up 0.4% from August 2024.
West
• 1.4% increase in sales month-overmonth to an annual rate of 730,000, down 1.4% year-over-year.
• $624,300: Median price, up 0.6% from August 2024.
REALTORS CONFIDENCE
INDEX FOR AUGUST
• 31 days: Median time on market for properties, up from 28 days last month and 26 days in August 2024.
• 28% of sales were first-time homebuyers, unchanged from July and up from 26% in August 2024.
• 28% of transactions were cash sales, down from 31% a month ago and up from 26% in August 2024.
• 21% of transactions were individual investors or second-home buyers, up slightly from 20% last month and 19% in August 2024.
• 2% of sales were distressed sales (foreclosures and short sales), unchanged from July and up slightly from 1% in August 2024.
Mortgage rates
• 6.59%: The average 30-year fixedrate mortgage in August, according to Freddie Mac, down from 6.72% in July and 6.50% one year ago.
Existing-home sales, which include single-family, townhomes, condominiums and co-ops, are based on transaction closings from Multiple Listing Services. Changes in sales trends outside of MLSs are not captured in the monthly series. NAR benchmarks home sales periodically using other sources to assess overall home sales trends, including sales not reported by MLSs.
Existing-home sales, based on closings, differ from the U.S. Census Bureau’s series on new single-family home sales, which are based on contracts or the acceptance of a deposit. Because of these differences, it is not uncommon for each series to move in different directions in the same month.
In addition, existing-home sales, which account for more than 90% of total home sales, are based on a much larger data sample — about 40% of multiple listing service data each month — and typically are not subject to large priormonth revisions.
The annual rate for a particular month represents what the total number of
“Home sales have been sluggish over the past few years due to elevated mortgage rates and limited inventory,” said NAR Chief Economist Lawrence Yun. “However, mortgage rates are declining and more inventory is coming to the market, which should boost sales in the coming months.”
actual sales for a year would be if the relative pace for that month were maintained for 12 consecutive months.
Seasonally adjusted annual rates are used in reporting monthly data to factor out seasonal variations in resale activity. For example, home sales volume is normally higher in the summer than in the winter, primarily because of differences in the weather and family buying patterns. However, seasonal factors cannot compensate for abnormal weather patterns.
Single-family data collection began monthly in 1968, while condo data collection began quarterly in 1981; the series were combined in 1999 when monthly collection of condo data began.
Prior to this period, single-family homes accounted for more than nine out of 10 purchases. Historic comparisons for total home sales prior to 1999 are based on monthly single-family sales, combined with the corresponding quarterly sales rate for condos.
Total inventory and month’s supply data are available back through 1999, while single-family inventory and month’s supply are available back to 1982 (prior to 1999, single-family sales accounted for more than 90% of transactions and condos were
measured only on a quarterly basis).
The median price is where half sold for more and half sold for less; medians are more typical of market conditions than average prices, which are skewed higher by a relatively small share of upper-end transactions. The only valid comparisons for median prices are with the same period a year earlier due to seasonality in buying patterns. Month-to-month comparisons do not compensate for seasonal changes, especially for the timing of family buying patterns. Changes in the composition of sales can distort median price data. Yearago median and mean prices sometimes are revised in an automated process if additional data is received.
The national median condo/co-op price often is higher than the median single-family home price because condos are concentrated in higher-cost housing markets. However, in a given area, single-family homes typically sell for more than condos as seen in NAR’s quarterly metro area price reports. Distressed sales (foreclosures and short sales), days on market, firsttime buyers, all-cash transactions and investors are from a monthly survey for the NAR’s Realtors Confidence Index, posted at nar.realtor.
New Butterball report reveals 2025 Thanksgiving plans
Butterball, the best known and most loved brand of turkey in the U.S. (according to 2024 Kantar Brand Tracking Dec 2024 n=361), recently announced the findings of the Butterball Togetherness Report: 2025 Thanksgiving Outlook, which explores the Thanksgiving plans of hosts and attendees alike.
The holiday report reveals that 89% of consumers plan to celebrate Thanksgiving this year with an anticipated celebration size of nine
people. Consumers who plan to celebrate are most looking forward to spending time with family, followed by the food and relaxing.
While inflation remains top of mind, consumers are committed to celebrating Thanksgiving, with only 28% of consumers expecting inflation to cause them to celebrate Thanksgiving differently this year. To control costs, 21% plan to ask guests to bring part of the meal. Other ways to save include making changes to side dishes (15%),
non-food items such as paper goods or décor (14%) and desserts (12%).
As always, turkey reigns, with 84% of hosts planning to serve turkey this year and the overwhelming majority (72%) planning to roast their turkeys. Turkey also remains the favorite part of the Thanksgiving meal (47%), followed by stuffing (41%), pie (29%) and potatoes (with white potatoes and sweet potatoes tied at 26%).
“People are excited and committed to celebrating Thanksgiving,” said Rebecca
Age-based chores guidelines
METRO SERVICES
As children grow
Though some kids may embrace chores
than others, youngsters have much to gain from being given a little more responsibility around the house.
The American Academy of Child & Adolescent Psychiatry notes that children given ageappropriate chores can learn time management skills and how to balance work and play from a young age, among other lessons. The AACAP also notes that chores can help to establish a good foundation for functioning independently.
When choosing chores for children, it is essential that parents find age-appropriate tasks. If kids are asked to perform tasks that are beyond their abilities, they likely will not reap the rewards of doing chores and might even hesitate when presented with new chores down the road. With that in mind, parents can follow these agebased chores recommendations, courtesy of the AACAP.
2- TO 3-YEAR OLDS
The AACAP notes that kids in this age group can be tasked with putting
away their toys and even pitch in when Mom and Dad put groceries away. Kids who help put groceries away should be given lightweight, non-breakable items (i.e., steer clear of jars of tomato sauce).
4- TO 5-YEAR-OLDS
Around this time kids can start making their own beds, though it is important that parents recognize kids likely will not make the bed perfectly. Four- and five-year-olds also can help feed pets (parents can watch initially to ensure pets are not overfed) and help to clear the table after dinner.
6- TO 7-YEAR-OLDS
Kids in this age group can wipe tables and counters, put their laundry away and even pitch in when cleaning floors with a broom. If six- and sevenyear-olds are tasked with putting away their laundry, just make sure they do not need to climb dressers to place items in the uppermost drawers, which can lead to accidents and injuries. If kids have taller dressers, limit this chore to putting away only those clothes that go in lower, easily accessible drawers.
7- TO 8-YEAR-OLDS
The AACAP notes that children in this age bracket can load and unload the dishwasher, help prepare meals and pack their own lunch for school. When kids are assigned these tasks, parents should keep sharp knives beyond kids’ reach, and some may want to check lunch boxes after kids go to bed to ensure the midday meal they prepared is not exclusively candy.
10- TO 11-YEAR-OLDS
Youngsters around these ages can change sheets, clean the kitchen or bathrooms and be given some light yard work.
12-YEARS-OLD AND OLDER
The AACAP notes children 12 and older can wash the car and help look after younger siblings. Teens can help shop for groceries and run errands.
Parents know no two children are the same, so it is important to be subjective when considering these guidelines. Parents can watch children perform new chores the first few times to ensure they are up to the tasks. More information about chores can be found at aacap.org.
Welch, director of retail and international brand management at Butterball.
“We’re proud of Butterball’s role in Thanksgiving celebrations throughout the country — inspiring togetherness and providing a tender, juicy, delicious holiday centerpiece. The experts at the Butterball Turkey Talk-Line are standing by and ready to help holiday hosts prepare the most important meal of the year.”
The Butterball Turkey Talk-Line is once again available to support new and seasoned holiday hosts. Opening
on Monday, November 3 for its 44th year, these turkey experts are standing by and ready to answer holiday hosting questions via phone, text, email, chat and social channels through December 24.
About The Butterball Togetherness Report: 2025 Thanksgiving Outlook
Butterball partnered with Circana to commission an online survey among a nationally representative sample of 1,678 U.S. adults. The survey was fielded by Circana in July 2025.
