Existing Home Market Still Crawling Along The Bottom Despite Modest Bounce

After sliding back in June, existing-home sales picked up in July. The latest update, released August 21, shows a modest rebound. Sales rose 2.0% to a seasonally adjusted annual rate of 4.01 million are now 0.8% higher than a year ago. As has been and continues to be the case, zooming out on the same chart puts things in the most accurate perspective for the home resale market. Sales levels have hovered near 75% of pre-pandemic norms for three years now. NAR’s Chief Economist Lawrence Yun noted that slightly better affordability and stronger wage growth are giving sales a lift, with buyers also benefiting from more choices in the market. He added that many areas are seeing near-flat price growth, with some regions experiencing outright price declines. Even so, homeowners remain in a strong position, with a cumulative 49% increase in typical home values since mid-2019. Distressed sales remain at historic lows, and inventory has climbed to its highest level since May 2020, offering buyers their best negotiating position in years. Regional Breakdown (Sales and Prices, July 2025) Region Sales (annual rate) MoM Change Median Price YoY Change Northeast 500k +8.7% $509,300 +0.8% Midwest 940k -1.1% $333,800 +3.9% South 1.805m +2.2% $367,400 -0.6% West 720k +1.4% $620,700 -1.4%

August 21, 2025 Download our Mobile App: Download our Mobile App: Housing News Existing Home Market Still Crawling Along The Bottom Despite Modest Bounce After sliding back in June, existing-home sales picked up in July. The latest update, released August 21, shows a modest rebound. Sales rose 2.0% to a seasonally adjusted annual rate of 4.01 million are now 0.8% higher than a year ago. As has been ... (read more) MBS Commentary Some Headwinds Ahead of Powell's Jackson Hole Speech Some Headwinds Ahead of Powell's Jackson Hole Speech Thursday brought the week's only relevant econ data with 3 occasional market movers on tap.  Their results were mixed, but the important development w... (read more) Mortgage Rate Watch Mortgage Rates Inch Higher Yet Again In a world (like this one) where mortgage rates are dictated by bond market movement and where bonds take cues from certain economic reports, weeks like this one can be frustrating or boring.  Until today, there haven't been any actionable econo... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.62% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.62% +0.01 0.00 15 Yr. Fixed 5.97% 0.00 0.00 30 Yr. FHA 6.22% +0.03 0.00 30 Yr. Jumbo 6.67% -0.01 0.00 7/6 SOFR ARM 6.11% -0.02 0.00 30 Yr. VA 6.23% +0.02 0.00 Updates Daily - Last Update: 8/21 15 Yr. Fixed Rate 5.97% +0.00% Rate Change Points Freddie Mac 30 Yr. Fixed 6.58% 0.00 0.00 15 Yr. Fixed 5.69% -0.02 0.00 Updates Weekly - Last Update: 8/21 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.68% +0.01 0.60 15 Yr. Fixed 5.96% +0.03 0.70 30 Yr. Jumbo 6.64% -0.06 0.60 Updates Weekly - Last Update: 8/20 MBS / Treasuries UMBS 30YR 5.5 99.97 -0.08 Price / Yield Change MBS UMBS 5.5 99.97 -0.08 UMBS 6.0 101.75 -0.02 GNMA 5.5 100.19 -0.02 GNMA 6.0 101.67 +0.02 Pricing as of: 8/21 5:31PM EST 10 Year US Treasury 4.3243 +0.0293 Price / Yield Change US Treasury 2 YR Treasury 3.791 +0.043 5 YR Treasury 3.854 +0.039 7 YR Treasury 4.063 +0.046 10 YR Treasury 4.324 +0.029 30 YR Treasury 4.917 +0.021 Pricing as of: 8/21 5:31PM EST Latest Video Redfin CEO on housing outlook: Buyers will come into the market in the next... Kansas City Fed President Schmid on inflation: The last mile is pretty hard Watch CNBC's full interview with Kansas City Fed President Schmid Preliminary S&P global flash U.S. manufacturing PMI surprises to upside Around the Web Redfin Home Purchases Are Getting Canceled at a Record Rate S&P Global Growth and hiring accelerate in August, whilst selling price inflation hits three-year high CNBC Fix-and-flip real estate investors are pulling back CNBC Here's what's keeping home buyers on the sidelines even as mortgage rates hit a 10-month low Marketwatch Jobless claims jump to 2-month high - but still no sign of rising U.S. layoffs Eye on Housing New and Existing Homes Remain Largely Unaffordable in Second Quarter Calculated Risk Blog Newsletter: NAR: Existing-Home Sales Increased to 4.01 million SAAR in July; Up 0.8% YoY CNBC Divided Fed worried about tariffs, inflation and the labor market, minutes show Eye on Housing Retreat for Single-Family Built-for-Rent Housing Federal Reserve FOMC Minutes Full Text CNBC Treasury yields inch higher as investors look ahead to Fed Chair Powell's speech Calculated Risk Blog FOMC Minutes: "Committee might face difficult tradeoffs" regarding Unemployment and Inflation Calculated Risk Blog AIA: "Business at architecture firms remains soft" in July

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