Existing Home Sales During JUNE 2025
Existing Home Sales report for June 2025 was released by The National Association of REALTORS® (NAR®) this morning:
======================
Previous Month: 4,040,000
- Actual: 3,930,000
- Change from Previous Month: -2.72% (-110,000 homes)
- Change from A Year Ago (Y-o-Y): FLAT (No Change)
- Inventory: 1,530,000 homes.
(4.7 months supply | +210,000 [+15.9%] homes Y-o-Y.)
======================
The yellow-highlighted, "actual" figure above represents the preliminary, seasonally adjusted annualized sales count of existing homes, co-ops and condominiums for the indicated month. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.
------------------------------------------------------
-
Median Price: $435,300 (New Record-High)
- Price Change from A Year Ago: +1.97% (+$8,400)
------------------------------------------------------
==========
From Today's Report:
"...'The record high median home price highlights how American homeowners' wealth continues to grow -- a benefit of homeownership. The average homeowner's wealth has expanded by $140,900 over the past five years," said NAR Chief Economist Lawrence Yun.
'Multiple years of undersupply are driving the record high home price. Home construction continues to lag population growth. This is holding back first-time home buyers from entering the market. More supply is needed to increase the share of first-time homebuyers in the coming years even though some markets appear to have a temporary oversupply at the moment.'
'High mortgage rates are causing home sales to remain stuck at cyclical lows. If the average mortgage rates were to decline to 6%, our scenario analysis suggests an additional 160,000 renters becoming first-time homeowners and elevated sales activity from existing homeowners,' Dr. Yun continued.
'Expanding participation in the housing market will increase the mobility of the workforce and drive economic growth. If mortgage rates decrease in the second half of this year, expect home sales to increase across the country due to strong income growth, healthy inventory, and a record-high number of jobs.'..."
==================
==================
Labels: existing_home_sales, FedPrimeRate, FedPrimeRate.com, hard_data, homes, housing, Housing_Recession, Lawrence_Yun, NAR, preowned_homes, property, real_estate, REALTORS, used_homes, www.FedPrimeRate.com
|
--> www.FedPrimeRate.com Privacy Policy <--
CLICK HERE to JUMP to the TOP of THIS PAGE --> SITEMAP <-- |
posted by Steve Brown | 7/23/2025 05:21:00 PM
|
0 comments
