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.”
Regional Market Insights
- Northeast (including New Jersey): Sales jumped 8.7% month-over-month and 2.0% year-over-year. Median price: $509,300 (+0.8%).
- Midwest: Slight dip in sales (-1.1%) but prices rose nearly 4% year-over-year.
- South: Sales up 2.2% and prices slightly down (-0.6%) — good news for affordability.
- West: Sales up 1.4% month-over-month but still down compared to last year, with prices falling -1.4%.
For NCJAR members: The Northeast’s strong gains highlight continued demand in our region. While price growth is modest, stability and rising sales signal confidence in the market.
Market Behavior to Watch
- First-Time Buyers: Now 28% of the market, down slightly from June.
- Cash Buyers: Increased to 31% of all transactions — a reminder to prepare buyers for competitive offers.
- Investors: Up to 20% of transactions, the highest in months.
- Distressed Sales: Just 2% of the market, near historic lows.
What This Means for REALTORS®
- For Buyers: Inventory levels are the strongest since the early COVID period, giving clients more options and negotiating power.
- For Sellers: While price growth is modest, equity remains strong — homeowners have seen nearly 50% appreciation since 2019.
- For REALTORS®: Market conditions are creating space for informed, trusted guidance. Position yourself as the expert who can help buyers navigate opportunities and sellers price competitively.
Mortgage Rates
- 6.72% average 30-year fixed-rate in July (down from 6.82% in June).
- Falling rates may encourage more buyers to re-enter the market in the coming months.
Looking Ahead
NAR will release the Pending Home Sales Index for July on August 28, and the August Existing-Home Sales Report on September 23.
NCJAR will continue to provide local MLS updates to keep you informed about market shifts in North Central Jersey.
