The pace of home sales, meanwhile, remained at “multi-decade lows” even as affordability reached its most favorable level since 2022.

Across reports from Realtor.com, Zillow and Redfin, the data converges on one clear truth: the housing market’s momentum is tilting toward those shopping for homes rather than those selling them.

Property showings increased 4.3% year over year, with over 35,000 viewings during the week.

Homebuyers purchased 1,605 homes during the week ended Sept. 22, up from 1,515 closings during the same week in 2024.

The priciest new listing in Texas this past month is a $22 million estate that spans 14,341 square feet — that’s over $1,500 per square foot.

Searches for “fixer-upper” on Realtor.com in July 2025 have more than tripled in volume compared to four years ago.

The pace of new-home sales hit an annual rate of 800,000, its highest level since January 2022. 

Fannie Mae also reduced its forecasts for home sales in 2025 and 2026. 

The average new-home price decreased just slightly to $402,285, down from $402,741 a year prior.

Meanwhile, pending listings declined 6.3%, with 1,889 listings going under contract, and closings decreased 6.8%, with 1,366 home sales.

The decline in sales came as a 17-month run of year-over-year increases in new listings came to a close.

The move was widely anticipated and is expected to be followed by additional cuts this year. 

Meanwhile, renters signed 4,602 single-family leases, up 3.1% year over year.

The jump in mortgage activity was driven in large part by refinancings, which surged 58% in the week ended Sept. 12. 

At the same time, completions of new single-family homes were on the rise last month, according to federal statistics. 

The National Association of Home Builders said its monthly builder-confidence survey indicated rising optimism that lower interest rates could spur new-home buying activity.