Existing-Home Sales Rose 0.8% in May
Washington, DC, June 23, 2025-Existing-home sales rose 0.8% in May to a seasonally adjusted annual rate of 4.03 million, according to the National Association of Realtors. This marks a 0.7% decrease year-over-year, down from 4.06 million in May 2024.
Sales elevated in the Northeast, Midwest and South but retreated in the West. Year-over-year, sales progressed in the Northeast and Midwest but contracted in the South and West. This report equips real estate professionals with valuable information that helps them serve their clients and get to their next transaction.
"The relatively subdued sales are largely due to persistently high mortgage rates. Lower interest rates will attract more buyers and sellers to the housing market," said NAR chief economist Lawrence Yun. "Increasing participation in the housing market will increase the mobility of the workforce and drive economic growth. If mortgage rates decrease in the second half of this year, expect home sales across the country to increase due to strong income growth, healthy inventory, and a record-high number of jobs."
Inventory in May
- 1.54 million units: Total housing inventory, up 6.2% from April and 20.3% from May 2024 (1.28 million).
- 4.6-month supply of unsold inventory, up from 4.4 months in April and 3.8 months in May 2024.
- $422,800: Median existing-home price for all housing types, up 1.3% from one year ago ($417,200) – a record high for the month of May, and the 23rd consecutive month of year-over-year price increases.