Industry News
The latest data from the National Association of REALTORS® offers a nuanced look at the state of the U.S. housing market—and what it means for buyers, sellers, and REALTORS® alike. As market conditions evolve, staying informed allows you to better serve your clients and navigate your next transaction with confidence. Here’s what stood out in May’s report.
Sales Climb Month-Over-Month, but Remain Soft Year-Over-Year
- Existing-home sales rose 0.8% in May, reaching a seasonally adjusted annual rate (SAAR) of 4.03 million units.
- Despite this monthly gain, sales were down 0.7% compared to May 2024.
Economists attribute the muted overall pace to elevated mortgage rates. According to NAR Chief Economist Lawrence Yun, “Lower interest rates will attract more buyers and sellers to the housing market. Increasing participation will drive economic growth.”
Inventory Rises, Offering Relief for Buyers
- Total housing inventory climbed to 1.54 million units, a 6.2% jump from April and a notable 20.3% increase from one year ago.
- This translates to a 4.6-month supply—up from 3.8 months in May 2024.
This increase in inventory suggests a more favorable environment for buyers, with more options and slightly more breathing room in negotiations.
In response to the evolving landscape of real estate, the National Association of REALTORS® (NAR) has announced a new MLS policy titled "Multiple Listing Options for Sellers." To provide further clarity and context, NAR President Kevin Sears has recorded a special video message detailing the policy’s origins, its intent, and how it will empower consumers.
Watch President Sears' Message:
WASHINGTON (April 30, 2025) – National housing market activity picked up in March, with pending home sales rising 6.1% from the previous month — the strongest monthly gain since December 2023. According to the latest data from the National Association of REALTORS® (NAR), this momentum signals increased confidence and activity among buyers heading into the spring season.
However, the picture was not uniform across the country. While the South led the surge with notable increases, the Northeast region experienced a modest decline, emphasizing the need for local market awareness among real estate professionals.
Understanding the March Numbers
NAR’s Pending Home Sales Index (PHSI) — a leading indicator of housing activity based on contract signings — climbed to 76.5 in March. While this marks a strong 6.1% gain month-over-month, pending transactions were still down 0.6% year-over-year.
Are you or someone you know making a meaningful impact in your community through volunteer service? The National Association of Realtors® (NAR) is now accepting applications for the 2025 Good Neighbor Awards, a prestigious program that honors Realtors® who go above and beyond to give back.
Since its inception in 2000, the Good Neighbor Awards have recognized more than 250 Realtors® for their selfless volunteer work, contributing over $1.5 million to nonprofit organizations. This award highlights the dedication of Realtors® who use their time and resources to create lasting change in their communities.
What You Need to Know:
- Application Deadline: April 18, 2025
- Award Benefits:
- Five winners will receive a $10,000 grant for their nonprofit organization.
- Five honorable mentions will each receive a $2,500 grant.
- Winners will be honored at NAR NXT, The REALTOR® Experience in November 2025 in Houston, Texas.
- Eligibility: Nominees must be an NAR member in good standing and actively volunteer for a 501(c)(3) nonprofit organization.
