May 2025
U.S. existing-home sales dipped 0.5% month-over-month and 2.0% year-over-year
to a seasonally adjusted annual rate of 4.00 million units, according to the National
Association of REALTORS® (NAR). Sales increased in the Midwest, decreased in
the West and Northeast, and were unchanged in the South. Year-over-year, sales
were down in every region except the Northeast.
New Listings were up 13.5 percent to 1,830. Pending Sales increased 16.0 percent
to 1,411. Inventory grew 38.3 percent to 3,174 units.
Prices moved higher as Median Sales Price was up 1.8 percent to $283,973. Days
on Market increased 7.1 percent to 45 days. Months Supply of Inventory was up
33.3 percent to 2.8 months, indicating that supply increased relative to demand.
There were 1.45 million units actively for sale heading into May, a 9.0% increase
from the previous month and a 20.8% improvement from the same time last year,
for a 4.4-month supply at the current sales pace, according to NAR. The median
existing-home price edged up 1.8% year-over-year to $414,000 as of last measure,
the 22nd consecutive month of annual price increases and a new record high for the
month.
Information courtesy of CMLS*
