April 2025
U.S. existing-home sales decreased 5.9% month-over-month and 2.4% year-over-
year to a seasonally adjusted annual rate of 4.02 million units, according to the
National Association of REALTORS® (NAR), as affordability challenges and
economic uncertainty weigh on market activity. Sales were down month-over-month
in all four regions, with the West experiencing the largest decline, at 9.4%.
New Listings were up 23.2 percent to 1,845. Pending Sales increased 12.7 percent
to 1,500. Inventory grew 39.0 percent to 2,995 units.
Prices moved higher as Median Sales Price was up 2.5 percent to $273,983. Days
on Market increased 10.9 percent to 51 days. Months Supply of Inventory was up
35.0 percent to 2.7 months, indicating that supply increased relative to demand.
Total housing inventory increased 8.1% month-over-month for a total of 1.33 million
units heading into April, equivalent to a 4.0-month supply at the current sales pace,
according to NAR. Although inventory is up nearly 20% from the same time last
year, the additional supply has had little effect on home prices across much of the
country, with the national median existing-home price climbing 2.7% year-over-
year to $403,700 as of last measure.
Information courtesy of CMLS*
