NAR Report Reveals 1.5% Rise in September Existing-Home Sales
According to the National Association of REALTORS® (NAR), existing-home sales rose by 1.5% in September 2025. This increase is seen as a positive indicator for the housing market, influenced by falling mortgage rates and improved housing affordability. The data gives insight to agents, homebuyers, and sellers on sales trends, pricing, and inventory levels.
Monthly and Annual Sales Overview
In September, total existing-home sales reached a seasonally adjusted annual rate of 4.06 million. This reflects a 4.1% increase compared to the same month last year. However, the Midwest region experienced a decline in sales, contrasting with growth in the Northeast, South, and West.
Monthly Sales Data
- Total Sales: Increased by 1.5% month-over-month.
- Annual Rate: Reached 4.06 million.
- Median Sales Price: $415,200, a 2.1% rise from September 2024.
Regional Sales Insights
Analyzing the regional performance showcases variations in the housing market across the United States.
| Region | Monthly Growth | Annual Rate | Median Price |
|---|---|---|---|
| Northeast | +2.1% | 490,000 | $500,300 |
| Midwest | -2.1% | 940,000 | $320,800 |
| South | +1.6% | 1.86 million | $364,500 |
| West | +5.5% | 770,000 | $619,100 |
Market Inventory and Prices
In September, the housing inventory stood at 1.55 million units. This represented a slight increase of 1.3% from August. Year-over-year, this number rose by 14% compared to the previous September.
The current inventory offers a 4.6-month supply of unsold homes, unchanged from August 2025, and higher than the 4.2 months in September 2024. With home prices on the rise for 27 consecutive months, the market dynamics appear favorable for sellers.
First-Time Buyers and Cash Sales
First-time homebuyers accounted for 30% of sales in September, an increase from previous months. Cash transactions also rose to 30%, indicating strengthened buyer confidence.
- Distressed Sales: Remained at 2%, unchanged from the previous periods.
- Average Mortgage Rate: Dropped to 6.35%, down from 6.59% in August.
With mortgage rates decreasing and inventory levels rising, the outlook for the housing market remains optimistic as 2025 progresses. The upcoming release of NAR’s Pending Home Sales Index on October 29 will provide further insight into market trends.
