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Existing Home Sales01-10-25 | Economic News

Existing Home Sales

2024 Yearbook / 2025 Forecast
by Aaron Schmok, LASN

Year - Total
2024 - 3840

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Existing home sales fell 1.0% in September to an annualized rate of 3.84 million, down 3.5% from a year ago. The Western region saw the only increase at 4.1% higher than August

Housing inventory rose to 1.39 million units - a 23% year-over-year increase, providing a 4.3-month supply - and median home prices grew 3.0% to $404,500. First-time buyers accounted for 26% of sales, matching record lows.

According to the National Association of Realtors, while higher inventory and moderating price growth offer opportunities, affordability remains a challenge. Improved market conditions could spur future activity.

https://www.nar.realtor/research-and-statistics/housing-statistics/existing-home-sales

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