Data & Statistics
U.S. existing-home sales slipped 1.0% month-over-month and were down 6.2% year-over-year as of last measure, while pending sales jumped 8.3% from the previous month, marking the largest gain since June 2020, according to the National Association of REALTORS® (NAR). Mortgage rates have dropped significantly from their peak last fall, and homebuyers are beginning to come out of the woodwork, with NAR forecasting a 13% increase in existing-home sales this year compared to 2023.
- Single Family Closed Sales were down 11.3 percent to 1,038.
- Townhouse-Condo Closed Sales were up 4.8 percent to 284.
- Adult Communities Closed Sales were up 11.8 percent to 38.
U.S. existing-home sales rose from a 13-year low, climbing 0.8% from the previous month and breaking a five-month streak in which sales declined, according to the National Association of REALTORS® (NAR). Despite the increase, sales were down 7.3% compared to the same period last year, as affordability challenges continue to hinder prospective buyers. Most of this period’s closed sales went under contract in October, when mortgage rates were at a two-decade high. With rates having dropped more than a full percentage point since then, existing-home sales may continue to pick up in the months ahead.
- Single Family Closed Sales were down 12.7 percent to 1,456.
- Townhouse-Condo Closed Sales were down 14.7 percent to 342.
- Adult Communities Closed Sales were down 7.7 percent to 36.
Low inventory, elevated sales prices, and decades-high interest rates continue to weigh on the housing market, causing sales of existing homes to fall to their slowest pace since August 2010. According to the National Association of REALTORS® (NAR), U.S. existing-home sales declined 4.1% month-over-month and 14.6% year-over-year as of last measure, as prospective buyers, faced with rising homeownership costs, wait for mortgage rates, and home prices, to drop.
- Single Family Closed Sales were down 19.1 percent to 1,386.
- Townhouse-Condo Closed Sales were down 11.1 percent to 384.
- Adult Communities Closed Sales were down 28.1 percent to 41.
U.S. sales of existing homes recently fell to a 13-year low, dropping 2.0% month- over-month and 15.4% year-over-year as of last measure, according to the National Association of REALTORS® (NAR), as surging interest rates and elevated sales prices continue to make homeownership unaffordable for many prospective buyers. Purchase activity is down significantly compared to this time last year, but rising interest rates are also keeping many current homeowners from selling, causing inventory to remain at historically low levels nationwide.
- Single Family Closed Sales were down 15.9 percent to 1,414.
- Townhouse-Condo Closed Sales were down 10.0 percent to 423. • Adult Communities
- Closed Sales were down 12.1 percent to 51.