September 2025
U.S. existing-home sales were virtually unchanged from the previous month, dipping
just 0.2% to a seasonally adjusted annual rate of 4.0 million units, according to the
National Association of REALTORS® (NAR). Most of these transactions went under
contract in June and July, when mortgage rates were 40 to 50 basis points higher
than current levels. Year-over-year, sales increased 1.8%, with the strongest activity
occurring in the Midwest, where the typical home price is 22% below the national
median.
New Listings were up 23.7 percent to 1,554. Pending Sales increased 19.4 percent
to 1,146. Inventory grew 40.9 percent to 3,599 units.
Prices moved higher as Median Sales Price was up 0.7 percent to $276,000. Days
on Market increased 6.7 percent to 48 days. Months Supply of Inventory was up
29.2 percent to 3.1 months.
Nationally, housing inventory declined for the first time this year, slipping 1.3%
month-over-month to 1.53 million units, representing a 4.6-month supply at the
current sales pace, according to NAR. Despite the monthly drop, total inventory
remained 11.7% higher than the same time last year. Meanwhile, the median
existing-home price rose 2% year-over-year to $422,600, though it was essentially
flat compared to the prior month.
Information courtesy of CMLS*
