The American housing market is entering a new phase of cooling, with a majority of homeowners now seeing their property values slip from last year's highs.
U.S. foreclosure activity edged higher in October, extending a months-long climb as rising borrowing costs and cooling home-price growth continue to pressure a small but growing share of homeowners.
Existing-home sales rose 1.5% month-over-month in September 2025, reaching a seasonally adjusted annual rate of 4.06 million, according to the National Association of Realtors (NAR). On a year-over-year basis, sales increased 4.1%, reflecting sustained demand across much of the country.
According to a new report from Redfin, the U.S. housing market lost more steam in September 2025, as elevated borrowing costs and growing inventories pushed seller competition to its weakest level in six years.
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