January 2025 Monthly Statistics

U.S. existing-home sales rose for the third consecutive month, increasing 2.2% to a seasonally adjusted annual rate of 4.24 million units, according to the National Association of REALTORS® (NAR). This marks a 10-month high and a 9.3% year-over-year increase, largely driven by sales of homes priced at $500,000 and above.

Regional Trends:

• Sales increased month-over-month in the South, Northeast, and West.
• Sales declined in the Midwest but showed year-over-year growth in all four regions.
  
  

Market Trends:

• New Listings:
  
  • Single-Family Homes: 6.4% decrease
  • Condominiums: 8.6% increase
    
    
• Pending Sales:
  
  • Single-Family Homes: 34.2% decrease
  • Condominiums: 29.8% decrease
    
    
• Inventory Levels:
  
  • Single-Family Homes: 61.6% increase
  • Condominiums: 108.3% increase

Pricing & Market Conditions:

• Median Sales Price:
  
  • Single-Family Homes: 11.6% to $1,187,500
  • Condominiums: 15.6% to $675,000
    
    
• Days on Market:
  
  • Single-Family Homes: 3.5% increase
  • Condominiums: 81.8% increase
    
    
• Months Supply of Inventory:
  
  • Single-Family Homes: 78.9% increase
  • Condominiums: 164.0% increase

National Housing Inventory & Pricing:

• Total housing inventory stood at 1.15 million units entering January.
• Inventory declined 13.5% from the previous month but rose 16.2% year-over-year.
• The current supply stands at 3.3 months based on sales pace.
• Home prices remain elevated nationwide, with the median existing-home price rising 6% year-over-year to $404,400, as housing supply lags behind pre-pandemic levels.
  
  

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