Here is your real estate news for Friday, August 29th.
Today’s Real Estate News (August 29, 2025):
Existing Home Sales Unexpectedly Tick Up in July
The U.S. saw a surprising 2.0% increase in existing home sales in July, reaching an annualized pace of 4.01 million units—defying economist forecasts for flatness. Although modest, it’s a rare glimmer of buyer activity amid persistent affordability pressures from high prices and mortgage rates.
Pending Home Sales Dip Despite Easing Rates
Despite a drop in mortgage rates to 6.56%—their lowest level in 10 months—pending home sales showed a small decline of 0.4% in July from the previous month. Still, they edged up 0.7% year-over-year. Buyers appear cautious even as borrowing costs soften a bit.
Mortgage Rates (August 29, 2025):
- 30-Year Fixed-Rate: 6.50%
- 15-Year Fixed-Rate: 5.86%
- 30-Year Jumbo: 6.45%
- 10 Year Treasury Yield: 4.23%
In the competitive real estate market, staying informed is crucial for both buyers and sellers. By understanding mortgage trends, housing market shifts, and the broader economic environment, individuals can make well-informed decisions. This knowledge can lead to more effective pricing strategies, better investment timing, and smoother transactions. For buyers, tracking mortgage rates can help them secure more favorable terms, while sellers who know their local market trends can set more competitive listing prices. Overall, staying updated on these topics not only helps real estate professionals serve their clients better, but also empowers everyday buyers and sellers to achieve their property goals.
Thanks for reading,
Chris
