Existing-home sales held roughly steady in August after tepid...
Existing-home sales held roughly steady in August after tepid uptick in July. That NAR reported a seasonally adjusted annual rate of 4.0 million , down 0.2% from July but 1.8% higher than a year ago. Sales have now hovered near 75% of pre-pandemic norms for three years, reflecting the same constrained but stable environment that has defined the market since 2022. NAR Chief Economist Lawrence Yun said mortgage rates are beginning to ease and inventory is slowly improving, which should help future sales. He added that record-high housing wealth and a strong stock market may support move-up activity, even as the lower end of the market remains tight. Regional Breakdown (Sales and Prices, August 2025) Region Sales (annual rate) MoM Change Median Price YoY Change Northeast 480k -4.0% $534,200 +6.2% Midwest 960k +2.1% $330,500 +4.5% South 1.83m -1.1% $364,100 +0.4% West 730k +1.4% $624,300 +0.6% National Market Stats
Last week was a wild one for mortgage rates with the lowest levels in nearly a year on Monday and an abrupt spike after Wednesday's Fed announcement. The present week has been completely different with each day seeing minimal change compared to the previous session. Today was no exception. This was actually a logical outcome based on the morning's economic data. PCE inflation--the broadest inflation metric and the Fed's favorite--came in right in line with forecasts. If it had been noticeably higher or lower rates would likely have moved up or down accordingly. Top ti... (read more)
PCE may be the most relevant inflation report when it comes to assessing progress toward the Fed's 2% target, but it is not the most relevant report to the bond market. The reporting lag is the key issue. Today's report is for the ancient past (August), and we already got CPI/PPI 2 weeks ago. Additionally, CPI/PPI help forecasters hone in on likely PCE... (read more)
Existing-home sales held roughly steady in August after tepid uptick in July. That NAR reported a seasonally adjusted annual rate of 4.0 million , down 0.2% from July but 1.8% higher than a year ago. Sales have now hovered near 75% of pre-pandemic norms for three years, reflecting the same constrained but stable environment that has defined the market since... (read more)
New home sales surged in August, breaking a two-year stretch of range-bound activity. The Census Bureau and HUD reported a seasonally adjusted annual rate of 800,000 , up 20.5% from July’s revised 664,000 and 15.4% above August 2024’s 693,000. This is the strongest monthly gain since the pandemic boom and a clear departure from the prior sideways trend. The... (read more)
Call them wretched or call them splendid, in Japan, robots and service bots run some restaurants and are indeed taking the place of humans, who have no doubt, been displaced. In displacement (and labor) news in the United States, call it posturing or real, the Trump Administration’s budget office is threatening mass firings if the federal government shuts do... (read more)
Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc.
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