June 2025
U.S. existing-home sales edged up 0.8% month-over-month to a seasonally
adjusted annual rate of 4.03 million units, exceeding economists’ expectations,
although sales were down 0.7% year-over-year, according to the National
Association of REALTORS® (NAR). On a monthly basis, sales increased in the
Midwest, Northeast, and South but decreased in the West.
New Listings were up 14.7 percent to 1,780. Pending Sales increased 16.4 percent
to 1,365. Inventory grew 33.9 percent to 3,299 units.
Prices moved higher as Median Sales Price was up 1.8 percent to $290,000. Days
on Market increased 2.4 percent to 43 days. Months Supply of Inventory was up
26.1 percent to 2.9 months, indicating that supply increased relative to demand.
Heading into June, there were 1.54 million units for sale across the country, a 6.2%
increase from the previous month and a 20.3% improvement over the same period
last year, representing a 4.6-month supply at the current sales pace, according to
NAR. Despite the additional supply, home prices have continued to rise nationwide,
albeit at a slower pace than during the pandemic, climbing 1.3% year-over-year to
$422,800 as of last measure.
Information courtesy of CMLS*
