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Existing Home Sales Slowed in June – Eye On Housing

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After reaching a five-month high last month, existing home sales pulled back in June as record-high home prices and elevated mortgage rates weighed on buyers. This monthly volatility reflects the sensitivity of home buyer demand to mortgage rate changes. Mortgage rates, though lower than a year ago, have increased more than 50 basis points since the Iran war began in late February and remain stuck around 6.5% in recent weeks. Energy shock has reaccelerated inflation, which has outpaced wage growth, further weighing on housing affordability.

Total existing home sales, including single-family homes, townhomes, condominiums, and co-ops, fell 2.4% to a seasonally adjusted annual rate of 4.09 million in June, according to the National Association of Realtors (NAR). On a year-over-year basis, sales were 2.8% higher from a year ago.

The existing home inventory level was 1.56 million units in June, down 0.6% from May but up 1.3% from a year ago. At the current sales rate, June unsold inventory sits at a 4.6-months’ supply, up from 4.5-months in May and unchanged from a year ago. Inventory between 4.5 to 6 months’ supply is generally considered a balanced market.

Homes stayed on the market for a median of 28 days in June, down from 29 days in the previous month but up from 27 days in June 2025.

The first-time buyer share was 33% in June. The share was down from 35% in May but up from 30% a year ago.

The June all-cash sales share was 25% of transactions, unchanged from last month but down from 29% in June 2025. All-cash buyers are less affected by changes in interest rates.

The June median sales price of all existing homes was $440,600, up 1.8% from last year. This marks the 36th consecutive month of year-over-year increases and reaches an all-time high. The median condominium/co-op price in June was up 1.6% from a year ago at $380,000. Recent gains for home inventory will put downward pressure on resale home prices in most markets in 2026.

Existing home sales in June were mixed across the four major regions. Sales fell in the South (-3.6%), Midwest (-3.0%) and West (-1.3%) but rose in the Northeast (+2.1%). On a year-over-year basis, sales increased in the South (+3.8%), West (+2.8%) and Midwest (+2.1%) but remained unchanged in Northeast.

The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts. The PHSI rose from 74.0 to 76.8 in May, the highest level since November 2025. On a year-over-year basis, pending sales were 4.8% higher than a year ago, according to the National Association of Realtors’ data.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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Existing Home Sales Increased in May – Eye On Housing

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Existing home sales rose to a five-month high in May as more first-time buyers stepped back into the market. The share of first-time buyer reached 35% in May, the highest since June 2020. However, sales remained weak compared to historical norms, with still-tight inventory continued to push up home prices. Mortgage rates, though lower than a year ago, have increased more than 50 basis points since the Iran war began in late February and remain stuck around 6.5% in recent weeks. Energy shock has reaccelerated inflation, which has outpaced wage growth, further weighing on housing affordability.

Total existing home sales, including single-family homes, townhomes, condominiums, and co-ops, rose 3.2% to a seasonally adjusted annual rate of 4.17 million in May, the highest since December 2025, according to the National Association of Realtors (NAR). On a year-over-year basis, sales were 3.2% higher from a year ago.

The existing home inventory level was 1.55 million units in May, up 3.3% from April and 0.6% from a year ago. At the current sales rate, May unsold inventory sits at a 4.5-months’ supply, unchanged from April but lower than 4.6-months a year ago. Inventory between 4.5 to 6 months’ supply is generally considered a balanced market.

Homes stayed on the market for a median of 29 days in May, down from 32 days in the previous month but up from 27 days in May 2025.

The first-time buyer share was 35% in May, the highest share in nearly six years. The share was up from 33% in April and 30% a year ago.

The May all-cash sales share was 25% of transactions, unchanged from last month but down from 27% in May 2025. All-cash buyers are less affected by changes in interest rates.

The May median sales price of all existing homes was $429,300, up 1.3% from last year. This marks the 35th consecutive month of year-over-year increases. The median condominium/co-op price in March was up 1.7% from a year ago at $378,200. Recent gains for home inventory will put downward pressure on resale home prices in most markets in 2026.

Existing home sales in May were mixed across the four major regions. Sales rose in the Midwest (+6.4%), South (+3.2%) and Northeast (+2.2%) but remained unchanged in the West. On a year-over-year basis, sales declined in the Northeast (-8.0%) but increased in the South (+5.9%), West (5.6%) and Midwest (2.0%).

The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts. The PHSI rose from 73.8 to 74.8 in April. PHSI data is typically released about a week after existing home sales reports. On a year-over-year basis, pending sales were 3.2% higher than a year ago, according to the National Association of Realtors’ data. However, resurgence in mortgage rates driven by the Iran war could reverse the increase.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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New Home vs. Existing Home Prices in Q1 2026 – Eye On Housing

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In the first quarter of 2026, the median price for a new single-family home was $403,200, which was $1,400 lower than the median price of an existing home, which stood at $404,600. This marks the fourth consecutive quarter for which existing home prices have exceeded new homes prices, according to U.S. Census Bureau and National Association of Realtors data (not seasonally adjusted – NSA)

Typically, new homes carry a price premium over existing homes. However, beginning in the second quarter of 2024, this relationship reversed, with existing home prices exceeding new home prices in six of the past eight quarters.

Both new and existing homes saw dramatic increases in prices post-pandemic due to higher construction costs and limited supply. While overall home prices remain elevated compared to historical norms, new homes prices have moderated due to tactical builder business decisions, whereas existing homes prices continue to increase because of lean supply and in some markets a lack of price discovery for existing homeowners.

The median price for a new single-family home sold in the first quarter of 2026 decreased by 4.7% from the previous year. New home price annual growth has been trending downwards since the second quarter of 2023.

Although existing home prices have continued to experience year-over-year increases for past 11 quarters, annual growth has slowed from a high of 4.9% two years ago to just 0.6% in the first quarter of 2026.

There are several factors as to why new and existing homes are selling at similar price points. Tight inventory continues to push up prices for existing homes, as many homeowners who secured low mortgage rates during the pandemic are hesitant to sell due to current high interest rates.

Meanwhile, new home pricing is more volatile – prices change due to the types and locations of homes being built. Despite various challenges facing the industry, home builders are adapting to affordability challenges by building on smaller lots, constructing smaller homes, and offering incentives. Additionally, there has been a shift in home building toward the South, associated with less expensive homes because of policy effects. This has occurred in an environment in which construction costs continue to rise, which is the fundamental driver of home prices.

The least expensive region for new homes in the fourth quarter was the South, with a median price of $361,800. The Midwest followed closely behind at $375,900. For existing homes, the Midwest was the most affordable region at $309,100, followed by the South at $362,500.

New homes were most expensive in the Northeast with a median price of $815,600, while the West sold at $551,500. For existing homes, the West led as the most expensive region at $607,000, followed by Northeast at $506,400.

The new home price premium was most pronounced in the Northeast, where new homes sold for $309,200 more than existing homes. Additionally, in the Midwest homes new homes sold for $66,800 more than existing homes. The West and South followed the national trend, with existing homes priced $55,500 more than new homes in the West and $700 more in the South.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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Existing Home Sales Edged Up Slightly in April – Eye On Housing

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Existing home sales edged up in April after reaching a nine-month low in March, but sales remained at historically low levels. Elevated mortgage rates and reignited inflation driven by the Iran war continued to weigh on affordability as economic uncertainty pushed up long-term rates, while rising energy costs strained household budgets. Despite inventory improving in recent months, it remains below pre-COVID levels and continues to push home prices to a record high for April as demand outpaces supply.

Total existing home sales, including single-family homes, townhomes, condominiums, and co-ops, rose 0.2% to a seasonally adjusted annual rate of 4.02 million in April, according to the National Association of Realtors (NAR). On a year-over-year basis, sales were unchanged from a year ago.

The existing home inventory level was 1.5 million units in April, up 5.8% from March and 1.4% from a year ago. At the current sales rate, April unsold inventory sits at a 4.4-months’ supply, up from 4.2-months in March and 4.3-months a year ago. Inventory between 4.5 to 6 months’ supply is generally considered a balanced market.

Homes stayed on the market for a median of 32 days in April, down from 41 days in the previous month but up from 29 days in April 2025.

The first-time buyer share was 33% in April, up from 32% in March but down slightly from 34% a year ago.

The April all-cash sales share was 25% of transactions, down from 27% in March but unchanged from a year ago. All-cash buyers are less affected by changes in interest rates.

The April median sales price of all existing homes was $417,700, up 0.9% from last year. This marks the 34th consecutive month of year-over-year increases. The median condominium/co-op price in March was up 1.1% from a year ago at $374,100. Recent gains for home inventory will put downward pressure on resale home prices in most markets in 2026.

Existing home sales in April were mixed across the four major regions. Sales rose in the Midwest (+2.2%) and South (+0.5%), fell in the West (-2.6%), and remained unchanged in the Northeast. On a year-over-year basis, sales were flat in the West, declined in the Northeast (-8.2%) and Midwest (-1.0%) but increased in the South (+2.7%).

The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts. The PHSI rose from 72.6 to 73.7 in March due to improved inventory. On a year-over-year basis, pending sales were 1.1% lower than a year ago, according to the National Association of Realtors’ data. However, resurgence in mortgage rates driven by the Iran war could reverse the increase.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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New Home Sales Rise, Supported by Limited Existing Inventory    – Eye On Housing

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The U.S. housing market showed mixed but generally improving conditions in March, as new home sales strengthened and price pressures continued to ease. While inventory dynamics varied across segments, moderating home prices and increased availability at the lower end of the market provided some relief to buyers navigating ongoing affordability challenges.

Sales of newly built single-family homes increased 7.4% month-over-month in March to a seasonally adjusted annual rate of 682,000 units, according to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This represented a 3.3% increase compared to a year earlier. A new home sale is recorded when a contract is signed, or a deposit is accepted, regardless of the stage of construction. The seasonally adjusted annual rate reflects the pace of sales that would occur over a 12-month period if current conditions persist.

New single-family home inventory totaled 481,000 units in March, down 0.4% from the prior month and 4.6% from a year earlier. At the current sales pace, the months’ supply of new homes stood at 8.5 months, down from 9.2 months one year ago, though still above the six-month level generally considered to indicate a balanced market.

Combined new and existing home inventory has edged higher in recent months, with the total months’ supply reaching 4.8 months. Meanwhile, inventory conditions in the existing home market have retreated after showing gradual improvement in prior months. Moderating prices across both markets have helped support buyer demand amid ongoing affordability concerns.

At the end of March, there were 119,000 completed, ready-to-occupy homes available for sale on a non-seasonally adjusted basis, up 5.3% from a year earlier. Completed homes accounted for one-quarter of total inventory, while homes under construction made up 51%. The remaining 24% of homes sold in March had not yet started construction at the time the sales contract was signed.

Home prices showed further signs of cooling at the start of 2026. The median new home sale price was $387,400, down 6.2% from a year ago, and 9.7% below the recent peak of $429,100 reached in December 2025. Affordability improved at the lower end of the market, with 20 percent of new homes priced below $300,000. Over a quarter (28%) of homes were priced above $500,000, while the remaining share fell within the $300,000 to $500,000 range.

Regionally, year-over-year new home sales increased 8.0% in the Midwest, reflecting ongoing strength in residential construction across the Midwestern states. New home sales declined 17.6% in the Northeast, 14.0% in the West and 2.6% in the South.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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Existing Home Sales Fell in March – Eye On Housing

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Existing home sales fell to a nine-month low in March as tight inventory, rising mortgage rates and growing concerns about the job market constrained sales activity. While inventory has improved in recent months, it remains below historical norms, continuing to push home prices higher as demand outpaces supply. Meanwhile, the Iran war has reversed the downward trend in mortgage rates, which jumped from 5.98% before the conflict to 6.37% last week. These headwinds will likely dampen home sales while tight inventory continues to drive home prices higher, further worsening housing affordability.

Total existing home sales, including single-family homes, townhomes, condominiums, and co-ops, fell 3.6% to a seasonally adjusted annual rate of 3.98 million in March, the lowest level since June 2025, according to the National Association of Realtors (NAR). On a year-over-year basis, sales were 1.0% lower than a year ago.

The existing home inventory level was 1.4 million units in March, up 3.0% from February and 2.3% from a year ago. At the current sales rate, March unsold inventory sits at a 4.1-months’ supply, up from 3.8-months in February and 4.0-months a year ago. Inventory between 4.5 to 6 months’ supply is generally considered a balanced market.

Homes stayed on the market for a median of 41 days in March, down from 47 days in the previous month and 36 days in March 2025.

The first-time buyer share was 32% in March, down from 34% in February and unchanged from a year ago.

The March all-cash sales share was 27% of transactions, down from 31% in February but up slightly from 26% a year ago. All-cash buyers are less affected by changes in interest rates.

The March median sales price of all existing homes was $408,800, up 1.4% from last year. This marks the 33rd consecutive month of year-over-year increases. The median condominium/co-op price in March was up 2.3% from a year ago at $371,500. Recent gains for home inventory will put downward pressure on resale home prices in most markets in 2026.

All four major regions saw sales declines in March, ranging from 1.3% in the West to 8.5% in the Northeast. On a year-over-year basis, sales rose in the West (+1.3%) and South (+2.2%), while sales in the Midwest and Northeast declined (-3.2% and 12.2% respectively).

The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts. The PHSI rose from 70.8 to 72.1 in February due to improved affordability. On a year-over-year basis, pending sales were 0.8% lower than a year ago, according to the National Association of Realtors’ data. However, resurgence in mortgage rates driven by the Iran war could reverse the increase.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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Existing Home Sales Rose in February – Eye On Housing

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Following the sharp decline last month, existing home sales bounced back in February as housing affordability improved. Lower mortgage rates and moderating home price growth helped pull buyers back to the market. However, tight inventory will likely continue to push home prices higher if demand outpaces supply growth.

Total existing home sales, including single-family homes, townhomes, condominiums, and co-ops, rose 1.7% to a seasonally adjusted annual rate of 4.09 million in February, according to the National Association of Realtors (NAR). On a year-over-year basis, sales were 1.4% lower than a year ago.

The existing home inventory level was 1.3 million units in February, up 2.4% from January and 4.9% from a year ago. At the current sales rate, February unsold inventory sits at a 3.8-months’ supply, unchanged from last month but up from 3.6-months in February. Inventory between 4.5 to 6 months’ supply is generally considered a balanced market.

Homes stayed on the market for a median of 47 days in February, up from 46 days in the previous month and 42 days in February 2025.

The first-time buyer share was 34% in February, up from 31% in January and one year ago.

The February all-cash sales share was 31% of transactions, up from 27% in January but down from 32% a year ago. All-cash buyers are less affected by changes in interest rates.

The February median sales price of all existing homes was $398,000, up 0.3% from last year. This marks the 32nd consecutive month of year-over-year increases. However, the year-over-year growth has moderated since peaking in December 2024, suggesting that price appreciation may continue to slow. The median condominium/co-op price in February was up 0.9% from a year ago at $358,100. Recent gains for home inventory will put downward pressure on resale home prices in most markets in 2026.

Three of the four major regions saw sales increases in February, ranging from 1.1% in the Midwest to 8.2% in the West. Sales in the Northeast fell 6.0%. On a year-over-year basis, sales rose only in the South (+0.5%), while sales in the West, Midwest, and Northeast all declined (-1.3%, -4.1%, and -4.1%, respectively). 

The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts. The PHSI fell from 71.5 to 70.9 in January. On a year-over-year basis, pending sales were 0.4% lower than a year ago, according to the National Association of Realtors’ data. The decline suggests buyers are holding back due to limited inventory choices.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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Existing Home Sales Retreat Amid Low Inventory – Eye On Housing

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Existing home sales fell in January to a more than two-year low after December’s strong rebound, as tight inventory continued to push home prices higher and winter storms weighed on activity. Despite mortgage rates trending lower and wage growth outpacing price gains, limited resale supply kept many buyers on the sidelines. Resale inventory remained at lowest level since January 2025. Though home price appreciation has slowed in recent months, affordability remains a challenge.

Total existing home sales, including single-family homes, townhomes, condominiums, and co-ops, fell 8.4% to a seasonally adjusted annual rate of 3.91 million in January, according to the National Association of Realtors (NAR). This marks the lowest level since August 2024. On a year-over-year basis, sales were 4.4% lower than a year ago.

The existing home inventory level was 1.2 million units in January, down 0.8% from December but up 3.4% from a year ago. At the current sales rate, January unsold inventory sits at a 3.7-months’ supply, up from 3.5-months in December and January 2024. Inventory between 4.5 to 6 months’ supply is generally considered a balanced market.

Homes stayed on the market for a median of 46 days in January, up from 39 days in the previous month and 41 days in January 2025.

The first-time buyer share was 31% in January, up from 29% in December and 28% from a year ago.

The January all-cash sales share was 27% of transactions, down from 28% in December and 29% a year ago. All-cash buyers are less affected by changes in interest rates.

The January median sales price of all existing homes was $396,800, up 0.9% from last year. This marks the new high for the month of January and the 31st consecutive month of year-over-year increases. The median condominium/co-op price in January was up 3.8% from a year ago at $364,600. Recent gains for home inventory will put downward pressure on resale home prices in most markets in 2026.

Sales declined in all four major regions in January, ranging from 5.9% in the Northeast to 10.3% in the West. On a year-over-year basis, sales also fell across all regions, from 1.6% in the South to 7.9% in the West.

The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts. The PHSI fell from 79.2 to 71.8 in December after four months of increases. On a year-over-year basis, pending sales were 3.0% lower than a year ago, according to the National Association of Realtors’ data. The decline suggests buyers are holding back due to limited inventory choices.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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Existing Home Sales Climb to Near 3-Year High in December – Eye On Housing

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Existing home sales rose in December to the fastest pace in nearly three years, but annual sales for 2025 remained at a 30-year low as elevated home prices and mortgage rates kept buyers on the sidelines, according to the National Association of Realtors (NAR). While mortgage rates have eased from 7% seen at the start of 2025 to near 6% by year-end, tight inventory continued to push home prices higher as more homeowners took listings off the market. Resale inventory dropped to its lowest level since January 2025. Though home price appreciation has been slowed in recent months, housing affordability remains a challenge.

Total existing home sales, including single-family homes, townhomes, condominiums, and co-ops, rose 5.1% to a seasonally adjusted annual rate of 4.35 million in December, the highest level for 2025 and highest since February 2023. On a year-over-year basis, sales were 1.4% higher than a year ago. For the year 2025, existing home sales totaled 4.06 million, unchanged from 2024 and matching the lowest level since 1995.

The existing home inventory level was 1.18 million units in December, down 18.1% from November but up 3.5% from a year ago. At the current sales rate, December unsold inventory sits at a 3.3-months’ supply, down from 4.2-months in November but up from 3.2-months in December 2024. Inventory between 4.5 to 6 months’ supply is generally considered a balanced market.

The December median sales price of all existing homes was $405,400, up 0.4% from last year. This marks the 30th consecutive month of year-over-year increases. The median condominium/co-op price in December was up 1.5% from a year ago at $364,400.  Recent gains for home inventory will put downward pressure on resale home prices in most markets in 2026. All four major regions saw an increase in sales in December, with gains ranging from 2.0% in the Northeast and Midwest to 6.9% in the South. However, sales were mixed on a year-over-year basis. Sales remained unchanged in the Midwest and West, rose 3.6% in the South, and fell 1.9% in the Northeast.

The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts. The PHSI rose from 76.7 to 79.2 in November due to lower mortgage rates. On a year-over-year basis, pending sales were 2.6% higher than a year ago, according to the National Association of Realtors’ data.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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Existing Home Sales Edge Higher in November – Eye On Housing

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Existing home sales rose for the third consecutive month in November as lower mortgage rates continued to boost home sales, according to the National Association of Realtors (NAR). However, the increase remained modest as mortgage rates still stayed above 6% while down from recent highs. The weakening job market also weighed on buyer activity.

Meanwhile, inventory fell for the fourth consecutive month as homeowners with record-high housing wealth held back from listing properties. Relatively tight supply continued to push home prices higher and challenge housing affordability, even as wage growth outpaced home price gains.

Total existing home sales, including single-family homes, townhomes, condominiums, and co-ops, rose 0.5% to a seasonally adjusted annual rate of 4.13 million in November, the highest level since February. However, on a year-over-year basis, sales were 1.0% lower than a year ago.

The existing home inventory level was 1.43 million units in November, down 5.9% from October but up 7.5% from a year ago. At the current sales rate, November unsold inventory sits at a 4.2-months’ supply, down from 4.4-months in October but up from 3.8-months in November 2024. Inventory between 4.5 to 6 months’ supply is generally considered a balanced market.

Homes stayed on the market for a median of 36 days in November, up from 34 days last month and 32 days in November 2024.

The first-time buyer share was 30% in November, down from 32% in October but unchanged from a year ago.

The November all-cash sales share was 27% of transactions, down from 29% in October but up from 25% a year ago. All-cash buyers are less affected by changes in interest rates.

The November median sales price of all existing homes was $409,200, up 1.2% from last year. This marks the 29th consecutive month of year-over-year increases. The median condominium/co-op price in November was up 0.1% from a year ago at $358,600.  Recent gains for home inventory will put downward pressure on resale home prices in most markets in 2025.

Existing home sales in November were mixed across the four major regions. Sales rose in the Northeast (+4.1%) and South (+1.1%), fell in the Midwest (-2.0%), and remained unchanged in the West. On a year-over-year basis, sales were unchanged in the Northeast and South (2.8%), while down in the Midwest (-3.0%) and West (-1.3%).

The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts. The PHSI rose from 74.9 to 76.3 in October. On a year-over-year basis, pending sales were 0.4% lower than a year ago, according to the National Association of Realtors’ data.



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