Existing-home sales rose 1.5% month-over-month in September 2025, reaching a seasonally adjusted annual rate of 4.06 million, according to the National Association of Realtors (NAR). On a year-over-year basis, sales increased 4.1%, reflecting sustained demand across much of the country.
Lawrence Yun
The gains were concentrated in the Northeast, South, and West, while the Midwest saw sales decline 2.1% from August. Year-over-year, the Northeast, Midwest, and South posted growth, whereas sales in the West remained flat. Chief Economist Lawrence Yun attributed the strength to falling mortgage rates and improving affordability, noting that “many homeowners are financially comfortable, resulting in very few distressed properties or forced sales. Home prices continue to rise in most parts of the country, further contributing to overall household wealth.”
Total housing inventory in September reached 1.55 million units, up 1.3% from August and 14.0% from the same month last year, with the supply of unsold homes holding steady at 4.6 months. The median existing-home price for all housing types rose to $415,200, up 2.1% from a year ago, marking the 27th consecutive month of annual price gains.
Single-family home sales climbed 1.7% from August to a rate of 3.69 million units, up 4.5% compared with September 2024, and the median price increased to $420,700. Sales of condominiums and co-ops held steady at 370,000 units, while the median price dipped 0.6% to $360,300.
Regionally, the Northeast posted a 2.1% monthly increase in sales to 490,000 units, up 4.3% year-over-year, with a median price of $500,300. The Midwest experienced a 2.1% drop in sales to 940,000 units but remained 2.2% higher than last year, with a median price of $320,800. The South saw sales rise 1.6% to 1.86 million units, up 6.9% year-over-year, and a median price of $364,500. In the West, sales surged 5.5% month-over-month to 770,000 units but were unchanged from a year ago, with the median price edging up 0.4% to $619,100.
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