Industry News
In a new episode of Advocacy Scoop, NAR’s advocacy leaders unpack exclusive polling showing that housing affordability is a top concern for U.S. voters across party lines.
Existing-home sales fell sharply in January, according to the National Association of REALTORS®’ latest Existing-Home Sales Report. While the headline numbers show a slowdown, affordability continues to improve — giving both buyers and sellers new reasons to stay engaged in the market.
The Big Picture
Month Over Month
- Existing-home sales dropped 8.4%, reaching a seasonally adjusted annual rate of 3.91 million
- Unsold inventory declined slightly by 0.8%, totaling 1.22 million homes
- Housing supply sits at 3.7 months
Year Over Year
- Sales are down 4.4% compared to January 2025
- Median existing-home price rose 0.9%, now at $396,800
- Home prices have increased year-over-year for 31 straight months
The latest National Association of REALTORS® data shows a notable shift in housing market momentum heading into year’s end — and real estate professionals should take note. Pending home sales have climbed to their highest level in nearly three years, signaling renewed buyer activity after a period of market caution. Reuters
What’s Happening in the Market
According to NAR’s Pending Home Sales Index — a key forward‐looking gauge tracking signed contracts on existing homes — contracts increased 3.3% in November compared to October and 2.6% year-over-year. This performance marks the strongest reading since February 2023. Reuters
Why does this matter? Pending sales often lead closed sales by one to two months, meaning this uptick may foreshadow stronger closings in early 2026. National Association of REALTORS®
What’s Driving the Uptick?
Several dynamics are contributing to this shift:
Lower Mortgage Rates:
Mortgage rates have eased in recent months — with the 30-year fixed rate dropping to the mid-6% range — improving monthly payment affordability.
As we head toward the close of 2025, November’s housing data confirms what many REALTORS® are seeing on the ground: buyer demand remains steady, inventory remains tight, and prices continue to show long-term resilience—despite seasonal slowdowns.
Across NCJAR’s footprint the market continues to favor well-priced, well-prepared listings, while buyers are becoming more deliberate in their decision-making.
Below is what matters most for your business.
The Big Picture (All NCJAR Markets)
Across all property types combined:
- Median sales price rose to $610,000, up 3.4% year-over-year
- Closed sales dipped 6.2%, reflecting seasonal and affordability pressures
- Days on market increased to 35 days, signaling a more balanced pace
- Inventory remains constrained at 1.9 months of supply
This is a market normalization where strategy matters more than ever.
