Research and Statistics

Existing-home sales rose 4.2% month-over-month to a seasonally adjusted rate of 4.26 million in February 2025. Year-over-year, sales fell 1.2%. According to NAR Chief Economist Lawrence Yun, "Home buyers are slowly entering the market. Mortgage rates have not changed much, but more inventory and choices are releasing pent-up housing demand."

In January 2025, the Midwest, South, and West experienced month-over-month losses in transactions, with the most significant drop in the South, and the Northeast saw a modest gain. Year-over-year, contract signings fell in all four U.S. regions, with the South seeing the greatest falloff. According to NAR Chief Economist Lawrence Yun, "It is unclear if the coldest January in 25 years contributed to fewer buyers in the market, and if so, expect greater sales activity in upcoming months. However, it’s evident that elevated home prices and higher mortgage rates strained affordability."