US Home Sales Decline
US home sales are plummeting toward the worst year since 1995. However, a recent report from Redfin suggests that the situation may be changing.
A new report from real estate brokerage Redfin shows that active US home listings experienced their biggest drop since 2023 in August, falling 1.4% from July. New listings also dropped 1.1% month-over-month, and almost 3% year-over-year.
Unease over housing costs and the overall economy is now impacting sellers in addition to buyers.
According to Redfin's Chen Zhao, this trend is expected to continue, with 2025 home sales finishing at 2024 levels, which was the worst year for sales since 1995. Despite this, the median home sale price did jump.
- Active US home listings dropped 1.4% from July to August.
- New listings dropped 1.1% month-over-month and almost 3% year-over-year.
Author's summary: US home sales are declining, but a "magic" number could open up new opportunities.