According to the National Association of REALTORS (NAR) Existing-Home Sales report, existing-home sales in August 2026 decreased by 2.0% month-over-month and 1.2% year-over-year.
“Mortgage rates and home sales move in opposite directions, so it’s not surprising to see a mild dip in home buying activity due to high mortgage rates,” said NAR Chief Economist Lawrence Yun. “Still, home prices are rising and existing home sales are actually up 1.6% year-to-date through the first eight months of the year. Homebuying demand, despite higher interest rates, is no doubt being supported by rising wages, which grew 3.1% in August, along with 643,000 net new jobs added since the start of the year. Job creation and wage growth typically drive housing demand.”
The median price for an existing home was $556,900, up 4.3% from 2025.
Yun added that it is still a buyer’s market, as ample inventory gives potential homebuyers more room to negotiate.
