Research and Statistics

Existing-home sales fell 4.9% month-over-month to a seasonally adjusted rate of 4.08 million in January 2025. Year-over-year, sales improved 2.0%. According to NAR Chief Economist Lawrence Yun, “Mortgage rates have refused to budge for several months despite multiple rounds of short-term interest rate cuts by the Federal Reserve. When combined with elevated home prices, housing affordability remains a major challenge.”

In December 2024, all four U.S. regions experienced month-over-month losses in transactions, with the most significant fall in the West. Year-over-year, contract signings reduced in all four U.S. regions, with the Midwest seeing the largest decrease.