Home sales in the US sink to slowest pace in more than a year

Sales of previously occupied U.S. homes declined in August to their slowest annual pace in more than a year as home shoppers grappled with rising mortgage rates and home prices. The National Association of Realtors said Thursday that existing home sales fell 2% last month from July to a seasonally adjusted annual rate of 3.98 million units. This is the third straight monthly decline. Sales also fell 1.2% compared with August last year.

The last time the annual sales pace came in below 4 million was June 2025. The U.S. median sales price increased 1.6% in August from a year earlier to $429,100, an all-time high for the month of August.

Read the original report at Apnews.