REMAX NATIONAL HOUSING REPORT FOR AUGUST 2025

Core Insights - U.S. home sales decreased by 1.6% year-over-year in August 2025, marking a decline of 5.5% from July 2025, coinciding with the end of a 17-month growth streak in new listings [1][2][7] - Active inventory increased by 24.4% year-over-year, although it saw a slight decrease of 0.4% from the previous month [2][14] - The median sales price rose by 1.9% year-over-year to $448,000, continuing a trend of annual price gains for 26 consecutive months [2][11] Sales Activity - Home sales in August 2025 were down 1.6% compared to August 2024 and down 5.5% from July 2025 [1][10] - The average close-to-list price ratio remained at 99%, indicating that buyers paid nearly the asking price [7][12] - Homes spent an average of 47 days on the market, which is an increase of eight days from the previous year [3][13] Inventory Trends - The number of new listings fell by 5.9% year-over-year and 9.2% month-over-month, with significant decreases in markets like Trenton, NJ (-44.8%) and Philadelphia, PA (-37.6%) [8][9] - The months' supply of inventory was stable at 2.8 months, up from 2.3 months in August 2024 [7][14] Price Trends - The median sales price across 51 metro areas was $448,000, with notable increases in markets like Manchester, NH (+9.2%) and Coeur d'Alene, ID (+9.0%) [11][12] - The markets with the lowest median sales prices included Cleveland, OH and Wichita, KS, both at $260,000 [5][6] Market Dynamics - Seasonal shifts and broader economic factors are influencing housing market activity, with affordability remaining a challenge despite improvements in mortgage rates [4] - Certain metro areas continue to provide more accessible entry points for buyers, highlighting the importance of local market conditions [4][6]