Residential Real Estate News
U.S. Home Sales Slightly Uptick in November
Existing-home sales in the United States edged higher in November 2025, driven by lower mortgage rates, according to the latest report from the National Association of Realtors. The seasonally adjusted annual rate of sales rose 0.5% from October to 4.13 million, though overall sales remained 1.0% below levels recorded in November 2024.
Regionally, the gains were uneven. Sales rose in the Northeast and South, held steady in the West, and declined in the Midwest. On a year-over-year basis, the Northeast and South saw little change, while the Midwest and West experienced declines.
"Existing-home sales increased for the third consecutive month as mortgage rates eased this fall," said Lawrence Yun, NAR's chief economist. "At the same time, growth in inventory is beginning to slow. With distressed sales at historic lows and housing wealth at record highs, many homeowners are not in a hurry to list their properties during the winter months."
Yun noted that wage growth continues to outpace home-price appreciation, providing some relief to buyers. "Still, affordability could tighten if housing supply fails to meet demand. Single-family homes continued to outperform condominiums in November. The median price for a condo remains roughly 13.5% below that of a single-family home, though rising association fees are increasingly adding to the cost of condo ownership," he said.
Housing inventory in November totaled 1.43 million units, down 5.9% from October but 7.5% higher than a year earlier. The supply of unsold homes stood at 4.2 months, slightly below October's 4.4 months but above the 3.8-month mark recorded in November 2024.
The median price for all existing homes last month was $409,200, up 1.2% from a year earlier and marking the 29th consecutive month of annual price gains.
Single-family homes saw sales rise 0.8% from October to an annualized pace of 3.75 million, though they were down 0.8% from November 2024. The median price for single-family homes was $414,300, up 1.2% year over year. In contrast, sales of condominiums and co-ops fell 2.6% from both the prior month and the previous year, with a median price of $358,600, essentially unchanged from a year ago.
Regionally, the Northeast posted a 4.1% increase in November sales to 510,000 units, with the median price rising to $480,800, up 1.1% from November 2024. In the Midwest, sales fell 2.0% month over month to 970,000, down 3.0% from a year earlier, while median prices climbed 5.8% to $319,400. The South saw a 1.1% increase in sales to 1.89 million, unchanged from last year, with the median price at $361,000, up 0.8%. The West held steady at 760,000 sales, down 1.3% from November 2024, and the median price slipped 0.9% to $618,900.
