W
ASHINGTON (Dec. 19, 2025) – Existing‑home sales rose 0.5 % in November, the National Association of REALTORS® (NAR) reported. The seasonally adjusted annual rate climbed to 4.13 million units, while year‑over‑year sales fell 1.0 %. Inventory totaled 1.43 million homes, a 5.9 % drop from October and a 7.5 % rise from November 2024, giving a 4.2‑month supply of unsold inventory.

    Median prices for all housing types hit $409,200, up 1.2 % from a year ago, marking the 29th consecutive month of price gains. Single‑family homes saw a 0.8 % MoM increase to 3.75 million units, with a median of $414,300, also up 1.2 % YoY. Condominiums and co‑ops fell 2.6 % MoM and YoY to 380,000 units; their median price was $358,600, a 0.1 % YoY rise.

    Regional trends: the Northeast grew 4.1 % MoM to 510,000 units, unchanged YoY, median $480,800. The Midwest slipped 2 % MoM to 970,000 units, down 3 % YoY, median $319,400. The South edged up 1.1 % MoM to 1.89 million units, unchanged YoY, median $361,000. The West stayed flat MoM at 760,000 units, down 1.3 % YoY, median $618,900.

    NAR’s Chief Economist Lawrence Yun said the third straight‑month rise is driven by lower mortgage rates, but inventory growth is slowing. “Distressed sales are at historic lows and housing wealth is at an all‑time high, so homeowners are not rushing to list during winter,” Yun added. He warned that while wage growth currently outpaces price increases, affordability could erode if supply does not keep pace.

    The REALTORS® Confidence Index noted a median 36‑day time on market, 30 % first‑time buyers, 27 % cash sales, 18 % investor/second‑home transactions, and 2 % distressed sales. The average 30‑year fixed‑rate mortgage was 6.24 %, down from 6.25 % in October and 6.81 % a year earlier.

    NAR will release its Pending Home Sales Index for November on Dec. 29 and the December existing‑home sales report on Jan. 14.