Sales of previously owned homes in the US dropped in August. They hit their lowest level in 14 months.

This happened even though more homes were listed for sale. MarketWatch said the number of homes for sale rose to nearly a 7-year high.

Other reports said total supply was the highest in more than 10 years. Experts linked the rise in listings to weak buyer demand.

Home inventory reached 1.62 million homes. That is up 3.2% from July.

It is up 5.9% from a year earlier. Still the median home price rose 1.6% to $429,100.

Prices kept rising even as sales slowed. Higher mortgage rates have discouraged some buyers.

So have years of rising prices. Still sales were 1.6% higher from January to August.

That compares to the same months in 2025. Inventory remained below normal historical levels.