Existing Home Sales During JUNE 2025

 Existing Home Sales report for June 2025 was released by The National Association of REALTORS® (NAR®) this morning:

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Previous Month: 4,040,000

• Actual: 3,930,000

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•  Change from Previous Month: -2.72% (-110,000 homes)
  
  
•  Change from A Year Ago (Y-o-Y): FLAT (No Change)

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• Inventory: 1,530,000 homes.

(4.7 months supply | +210,000 [+15.9%] homes Y-o-Y.)

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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.

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• Median Price: $435,300 (New Record-High)
  
  
• Price Change from A Year Ago: +1.97% (+$8,400)

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• Click Here for Historical Prices and a Chart.
  
  
• Click Here for New Home Sales Data.
  
  
• Click Here for the monthly New Home Sales report.

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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.'..."

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INFOGRAPHIC: Existing Home Sales
JUNE 2025 UPDATE
(Copyright © 2025 REALTORS®)

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Existing Home Sales During MAY 2025

Existing Home Sales report for May 2025 was released by The National Association of REALTORS® (NAR®) this morning:

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Previous Month: 4,000,000

• Actual: 4,030,000

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•  Change from Previous Month: +0.75% (+30,000 homes)
  
  
•  Change from A Year Ago: -0.74% (-30,000 homes)

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• Inventory: 1,540,000 homes.

(4.6 months supply | +260,000 [+20.31%] homes year-on-year.)

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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.

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• Median Price: $422,800
  
  
• Price Change from A Year Ago: +1.34% (+$5,600)

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==========

• Click Here for Historical Prices and a Chart.
  
  
• Click Here for New Home Sales Data.
  
  
• Click Here for the monthly New Home Sales report.

==========

From Today's Report:

"...'The relatively subdued sales are largely due to persistently high mortgage rates. Lower interest rates will attract more buyers and sellers to the housing market,' said NAR Chief Economist Lawrence Yun. 'Increasing 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 across the country to increase due to strong income growth, healthy inventory, and a record-high number of jobs.'

Mortgage Rates: 6.81%: Average 30-year fixed-rate mortgage as of June 18 according to Freddie Mac, down from 6.84% one week before and 6.87% one year ago..."

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INFOGRAPHIC: Existing Home Sales
MAY 2025 UPDATE
(Copyright © 2025 REALTORS®)

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Existing Home Sales During April 2025

Existing Home Sales report for April 2025 was released by The National Association of REALTORS® (NAR®) this morning:

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Previous Month: 4,020,000

• Actual: 4,000,000

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•  Change from Previous Month: -0.5% (-2,000 homes)
  
  
•  Change from A Year Ago: -1.96% (-8,000 homes)

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• Inventory: 1,450,000 homes.

(4.4 months supply | +250,000 [+20.83%] homes year-on-year.)

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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.

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• Median Price: $414,000
  
  
• Price Change from A Year Ago: +1.82% (+$7,400)

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==========

• Click Here for Historical Prices and a Chart.
  
  
• Click Here for New Home Sales Data.
  
  
• Click Here for the monthly New Home Sales report.

==========

From Today's Report:

"...'Home sales have been at 75% of normal or pre-pandemic activity for the past three years, even with seven million jobs added to the economy,' said NAR Chief Economist Lawrence Yun. 'Pent-up housing demand continues to grow, though not realized. Any meaningful decline in mortgage rates will help release this demand.'

'At the macro level, we are still in a mild seller's market,' Yun said. 'But with the highest inventory levels in nearly five years, consumers are in a better situation to negotiate for better deals.'..."

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INFOGRAPHIC: Existing Home Sales
APRIL 2025 UPDATE
(Copyright © 2025 REALTORS®)

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Existing Home Sales During March 2025

Existing Home Sales report for March 2025 was released by The National Association of REALTORS® (NAR®) this morning:

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Previous Month: 4,270,000

• Actual: 4,020,000

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•  Change from Previous Month: -5.85% (-25,000 homes)
  
  
•  Change from A Year Ago: -2.43% (-10,000 homes)

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• Inventory: 1,330,000 homes.

(4.0 months supply | +220,000 [+19.82%] Year-on-Year.)

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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.

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• Median Price: $403,700
  
  
• Price Change from A Year Ago: +2.75% (+$108,000)

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==========

• Click here for historical prices and a chart.
  
  
• Click here for New Home Sales Data.

==========

From Today's Report:

"...'Home buying and selling remained sluggish in March due to the affordability challenges associated with high mortgage rates,' said NAR Chief Economist Lawrence Yun. 'Residential housing mobility, currently at historical lows, signals the troublesome possibility of less economic mobility for society.'

'In a stark contrast to the stock and bond markets, household wealth in residential real estate continues to reach new heights,' Yun said. "With mortgage delinquencies at near-historical lows, the housing market is on solid footing. A small deceleration in home price gains, which was slightly below wage-growth increases in March, would be a welcome improvement for affordability. With real estate asset valuation at $52 trillion, according to the Federal Reserve Flow of Funds, each percentage point gain in home prices adds more than $500 billion to the household balance sheet.'..."

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INFOGRAPHIC: Existing Home Sales
MARCH 2025 UPDATE
(Copyright © 2025 REALTORS®)

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Existing Home Sales During February 2025

Existing Home Sales report for February 2025 was released by The National Association of Realtors® (NAR®) this morning:

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Previous Month: 4,090,000

• Actual: 4,260,000

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•  Change from Previous Month: +4.16% (+170,000 homes)
  
  
•  Change from A Year Ago: -1.16% (-50,000 homes)

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• Inventory: 1,240,000 homes.

(3.5 months supply | +180,000 [+16.98%] Year-on-Year.)

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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.

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• Median Price: $398,400
  
  
• Price Change from A Year Ago: +3.8% (+$14,600)

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• Click here for historical prices and a chart.
  
  
• Click here for New Home Sales Data.

==========

From Today's Report:

"...'Home buyers are slowly entering the market,' said NAR Chief Economist Lawrence Yun. 'Mortgage rates, have not changed much, but more inventory and choices are releasing pent-up housing demand."

'On a technical note, raw sales in February were down 5.2% from last year, which was a leap year with one extra day of business,' Yun added. 'However, after adjusting for this effect, combined with the winter seasonal factors, the momentum for home sales is flashing encouraging signs.'

'Each one percentage point gain in home price translates into an approximately $350 billion increase in housing equity for American property owners,' Yun said. "That means a gain of nearly $1.3 trillion in home value appreciation at a time when the current stock market is undergoing a correction. Moreover, the ongoing housing shortage, coupled with historically low mortgage default rates, implies a solid foundation for home values.'..."

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INFOGRAPHIC: Existing Home Sales
FEBRUARY 2025 UPDATE

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Existing Home Sales During December 2024

Existing Home Sales report for December 2024 was released by The National Association of Realtors® (NAR®) this morning:

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Previous Month: 4,150,000

• Actual: 4,240,000

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•  Change from Previous Month: +2.17% (+90,000 homes)
  
  
•  Change from A Year Ago: +9.33% (+362,000 homes)

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• Inventory: 1,150,000

(3.3 months supply | +16.16% Year-on-Year.)

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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.

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• Median Price: $404,400
  
  
• Price Change from A Year Ago: +6.03% (+$23,000)

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==========

• Click here for historical prices and a chart.
  
  
• Click here for New Home Sales Data.

==========

From Today's Report:

"...'Home sales in the final months of the year showed solid recovery despite elevated mortgage rates,' said NAR Chief Economist Lawrence Yun. 'Home sales during the winter are typically softer than the spring and summer, but momentum is rising with sales climbing year-over-year for three straight months. Consumers clearly understand the long-term benefits of homeownership. Job and wage gains, along with increased inventory, are positively impacting the market.'

'The median home price was elevated partly due to the upper-end market’s relative better performance,' Yun added. 'Sales rose by 35% from a year ago for homes priced above $1 million, while sales fell for homes priced under $250,000.'..."

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INFOGRAPHIC: Existing Home Sales
DECEMBER 2024 UPDATE

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