Industry News
WASHINGTON (August 21, 2025) – The latest NAR Existing-Home Sales Report shows signs of renewed energy in the market. Nationally, sales rose 2.0% in July, with inventory and affordability conditions giving buyers more options than they’ve had in recent years.
For NCJAR members, these numbers offer talking points for client conversations and insights into where opportunities are emerging.
Key Takeaways for Your Business
- More Buyers Entering the Market: Existing-home sales are up 2.0% month-over-month and 0.8% year-over-year. This growth reflects improving affordability as wage increases begin to outpace home price growth.
- Inventory at Highest Since 2020: With 1.55 million homes on the market nationwide, buyers have more choices — and REALTORS® have more opportunities to match clients with the right property.
- Prices Holding Steady: The national median home price edged up just 0.2% to $422,400, suggesting a balanced market where negotiation is back on the table.
NAR Chief Economist Lawrence Yun summed it up: “Homebuyers are in the best position in more than five years to find the right home and negotiate for a better price.”
The latest data from the National Association of REALTORS® offers a nuanced look at the state of the U.S. housing market—and what it means for buyers, sellers, and REALTORS® alike. As market conditions evolve, staying informed allows you to better serve your clients and navigate your next transaction with confidence. Here’s what stood out in May’s report.
Sales Climb Month-Over-Month, but Remain Soft Year-Over-Year
- Existing-home sales rose 0.8% in May, reaching a seasonally adjusted annual rate (SAAR) of 4.03 million units.
- Despite this monthly gain, sales were down 0.7% compared to May 2024.
Economists attribute the muted overall pace to elevated mortgage rates. According to NAR Chief Economist Lawrence Yun, “Lower interest rates will attract more buyers and sellers to the housing market. Increasing participation will drive economic growth.”
Inventory Rises, Offering Relief for Buyers
- Total housing inventory climbed to 1.54 million units, a 6.2% jump from April and a notable 20.3% increase from one year ago.
- This translates to a 4.6-month supply—up from 3.8 months in May 2024.
This increase in inventory suggests a more favorable environment for buyers, with more options and slightly more breathing room in negotiations.
Median Home Prices Hit New Record for May
In response to the evolving landscape of real estate, the National Association of REALTORS® (NAR) has announced a new MLS policy titled "Multiple Listing Options for Sellers." To provide further clarity and context, NAR President Kevin Sears has recorded a special video message detailing the policy’s origins, its intent, and how it will empower consumers.
Watch President Sears' Message:
WASHINGTON (April 30, 2025) – National housing market activity picked up in March, with pending home sales rising 6.1% from the previous month — the strongest monthly gain since December 2023. According to the latest data from the National Association of REALTORS® (NAR), this momentum signals increased confidence and activity among buyers heading into the spring season.
However, the picture was not uniform across the country. While the South led the surge with notable increases, the Northeast region experienced a modest decline, emphasizing the need for local market awareness among real estate professionals.
Understanding the March Numbers
NAR’s Pending Home Sales Index (PHSI) — a leading indicator of housing activity based on contract signings — climbed to 76.5 in March. While this marks a strong 6.1% gain month-over-month, pending transactions were still down 0.6% year-over-year.
