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The National Association of Realtors reports Existing-Home Sales Rise 0.5 Percent in November.

Month-over-month sales increased in the Northeast and South, showed no change in the West, and fell in the Midwest. Year-over-year sales showed no change in the Northeast and South, and decreased in the Midwest and West.

Key Numbers

• Month-Over-Month: +0.5 percent to a seasonally adjusted annual rate of 4.13 million.
• Year-Over-Year: -1.0 Percent
• Inventory: 1.43 million units, down 5.9% from October and up 7.5% from November 2024 (1.33 million)
• Supply: 4.2-month supply of unsold inventory, down from 4.4 months in October and up from 3.8 months in November 2024.
• Median Sales Price: $409,200, up 1.2% from one year ago ($404,400) – the 29th consecutive month of year-over-year price increases.

“Existing-home sales increased for the third straight month due to lower mortgage rates this autumn,” said NAR Chief Economist Lawrence Yun. “However, inventory growth is beginning to stall. With distressed property sales at historic lows and housing wealth at an all-time high, homeowners are in no rush to list their properties during the winter months.”

Well, that didn’t happen. NAR seasonal adjustments are garbage. For four consecutive years the NAR shows seasonal increases between October and February. So, expect another couple of months of increases then declines.

Existing-Home Sales Supply

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Despite all the moaning, supply of homes on a year-over-year basis is steadily rising, in both percentage terms and real terms give the flatline in sales.

Existing-home sales Median Sales Price

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The trend in the median price of existing-homes is interesting in 2025.

In prior years, prices of all transactions peaked in June then slide towards December.

This year, there is a huge divergence between single-family and the overall median. The median price of single-family units has flatlined for 5 months.

Despite mortgage rates declining a full percentage point from 7.26 percent in mid-January to 6.29 percent in mid-December, existing home sales have gone virtually nowhere.

Home are still not affordable. Neither rising inventory nor falling mortgage rates have helped.

Related Posts

December 16, 2025: The Unemployment Rate for Youths and Blacks Surges in November

The unemployment rate for those 16-19 rockets to 16.3 percent, Blacks to 8.3 percent.

December 18, 2025: The CPI for November Is Little But Missing Numbers and Magic

There are no month-over-month numbers for food, shelter, or medical care.

December 17, 2025: Trump Addresses the Nation, Blames Biden, Incessantly Praises Himself

Here’s a replay of Trump’s address to the nation.

In the allegedly best economy in history, people struggle with food, shelter, property taxes, and homeowner’s insurance.

Home sales are stagnant because no one can afford them. Youth and black unemployment has surged.

Health care costs are guaranteed to surge next year.

Yet, Trump goes on TV and tells everyone how great he is doing. Expect a further decline in his polling numbers.

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