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 26th 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.
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