Industry News
The U.S. House of Representatives just passed the Housing for the 21st Century Act, marking a significant step toward addressing the nation’s housing shortage. The legislation takes a comprehensive approach aimed at removing barriers to housing development at all levels of government.
In a new episode of Advocacy Scoop, NAR’s advocacy leaders unpack exclusive polling showing that housing affordability is a top concern for U.S. voters across party lines.
Existing-home sales fell sharply in January, according to the National Association of REALTORS®’ latest Existing-Home Sales Report. While the headline numbers show a slowdown, affordability continues to improve — giving both buyers and sellers new reasons to stay engaged in the market.
The Big Picture
Month Over Month
- Existing-home sales dropped 8.4%, reaching a seasonally adjusted annual rate of 3.91 million
- Unsold inventory declined slightly by 0.8%, totaling 1.22 million homes
- Housing supply sits at 3.7 months
Year Over Year
- Sales are down 4.4% compared to January 2025
- Median existing-home price rose 0.9%, now at $396,800
- Home prices have increased year-over-year for 31 straight months
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.
