February 2025
U.S. existing-home sales fell for the first time since September, slipping 4.9% monthover-
month to a seasonally adjusted annual rate of 4.08 million units, according to
the National Association of REALTORS® (NAR), as elevated home prices and higher
interest rates continue to impact buyer activity. Despite the drop, sales were up 2%
compared to the same period last year, marking the fourth consecutive monthly yearover-
year increase.
New Listings were up 13.4 percent to 1,392. Pending Sales increased 10.1 percent
to 1,179. Inventory grew 29.0 percent to 2,845 units.
Prices moved higher as Median Sales Price was up 2.3 percent to $267,900. Days
on Market increased 18.4 percent to 58 days. Months Supply of Inventory was up
30.0 percent to 2.6 months, indicating that supply increased relative to demand.
The limited number of properties for sale has continued to push home prices higher
nationwide. At last measure, the national median existing-home price was $396,900,
a 4.8% increase from one year earlier, with prices up in all four regions, according to
NAR. Meanwhile, total housing inventory heading into February stood at 1.18 million
units, up 3.5% month-over-month and 16.8% year-over-year, for a 3.5-month
supply at the current sales pace.
Information courtesy of CMLS*
