Existing-home sales extended their recent stabilization in November, rising 0.5% to a seasonally adjusted annual rate of 4.13 million, according to the National Association of Realtors (NAR). This is the 3rd straight increase and annualized sales are at their highest level in 8 months.
The catch is that--much like several other housing metrics--Existing Sales have been stuck in the lowest of gears since late 2022. As long as we continue to operate in this range, it's difficult to draw any conclusions about bigger picture momentum.
“Existing-home sales increased for the third straight month due to lower mortgage rates this autumn,” said NAR Chief Economist Lawrence Yun. “However, inventory growth is beginning to stall. With distressed property sales at historic lows and housing wealth at an all-time high, homeowners are in no rush to list their properties during the winter months.”
Regional Breakdown (Sales and Prices, November 2025)
| Region | Sales (annual rate) | MoM Change | Median Price | YoY Change |
|---|---|---|---|---|
| Northeast | 510k | +4.1% | $480,800 | +1.1% |
| Midwest | 970k | -2.0% | $319,400 | +5.8% |
| South | 1.89m | +1.1% | $361,000 | +0.8% |
| West | 760k | 0.0% | $618,900 | -0.9% |
National Market Stats
- Total Housing Inventory: 1.43 million units (down 5.9% from October; up 7.5% YoY)
- Unsold Inventory Supply: 4.2 months (down from 4.4 last month; up from 3.8 a year ago)
- Median Existing-Home Price: $409,200 (up 1.2% YoY; 29th consecutive yearly increase)
- Single-Family Median Price: $414,300 (up 1.2% YoY)
- Condo/Co-op Median Price: $358,600 (up 0.1% YoY)
- Single-Family Sales: 3.75 million (up 0.8% MoM; down 0.8% YoY)
- Condo/Co-op Sales: 380k (down 2.6% MoM and YoY)
