According to data from the National Association of Realtors, contract volume in the US fell 2% month-on-month in August, equivalent to an annual rate of 3.98 million units. This is one of only two sales since the fall of 2024 to fall below the 4 million unit mark. This disappointing figure reflects a real estate market in desperate need of a catalyst. Although housing price growth has cooled down from double-digit annual increases during the pandemic, affordability concerns are still a substantial headwind for buyers.

According to data from the National Association of Realtors, contract volume in the US fell 2% month-on-month in August, equivalent to an annual rate of 3.98 million units. This is one of only two sales since the fall of 2024 to fall below the 4 million unit mark. This disappointing figure reflects a real estate market in desperate need of a catalyst. Although housing price growth has cooled down from double-digit annual increases during the pandemic, affordability concerns are still a substantial headwind for buyers.