Industry News
The latest National Association of REALTORS® data shows a notable shift in housing market momentum heading into year’s end — and real estate professionals should take note. Pending home sales have climbed to their highest level in nearly three years, signaling renewed buyer activity after a period of market caution. Reuters
What’s Happening in the Market
According to NAR’s Pending Home Sales Index — a key forward‐looking gauge tracking signed contracts on existing homes — contracts increased 3.3% in November compared to October and 2.6% year-over-year. This performance marks the strongest reading since February 2023. Reuters
Why does this matter? Pending sales often lead closed sales by one to two months, meaning this uptick may foreshadow stronger closings in early 2026. National Association of REALTORS®
What’s Driving the Uptick?
Several dynamics are contributing to this shift:
Lower Mortgage Rates:
Mortgage rates have eased in recent months — with the 30-year fixed rate dropping to the mid-6% range — improving monthly payment affordability.
As we head toward the close of 2025, November’s housing data confirms what many REALTORS® are seeing on the ground: buyer demand remains steady, inventory remains tight, and prices continue to show long-term resilience—despite seasonal slowdowns.
Across NCJAR’s footprint the market continues to favor well-priced, well-prepared listings, while buyers are becoming more deliberate in their decision-making.
Below is what matters most for your business.
The Big Picture (All NCJAR Markets)
Across all property types combined:
- Median sales price rose to $610,000, up 3.4% year-over-year
- Closed sales dipped 6.2%, reflecting seasonal and affordability pressures
- Days on market increased to 35 days, signaling a more balanced pace
- Inventory remains constrained at 1.9 months of supply
This is a market normalization where strategy matters more than ever.
At midnight on September 30, Congress failed to approve funding for government operations, triggering a partial government shutdown. While not every federal program is affected, several housing and mortgage-related programs are being suspended or slowed. Here’s a summary of how key agencies and programs may impact your business and clients during this period.
Environmental Protection Agency (EPA)
Most EPA employees are furloughed. This affects regulatory programs like wetlands determinations under the 404 program and enforcement of lead-based paint disclosure and renovation, repair, and painting rules.
NAR Staff Contact: Russell Riggs –
U.S. Department of Housing and Urban Development (HUD)
HUD’s contingency plan allows some housing programs to continue, though many are reduced:
The latest Existing-Home Sales Report from the National Association of REALTORS® (NAR) shows that home sales remained largely unchanged in August, dipping just 0.2% month-over-month to a seasonally adjusted annual rate of 4.0 million units. While sales were steady, trends in inventory, pricing, and mortgage rates reveal important signals for both REALTORS® and their clients.
Key Highlights
Month-Over-Month (August vs. July)
- Sales: Down 0.2% to 4.0 million units (SAAR).
- Inventory: Down 1.3% to 1.53 million units, equal to 4.6 months’ supply.
Year-Over-Year (August 2025 vs. August 2024)
- Sales: Up 1.8%.
- Median Price: Rose 2.0% to $422,600, marking the 26th consecutive month of annual price increases.
National Snapshot
- Total Sales: 4.0 million (SAAR), up 1.8% year-over-year.
