NAR Report: October Existing-Home Sales Rise by 1.2%

Bassyonni

ago 48 minutes

The National Association of REALTORS® (NAR) reported an increase in existing-home sales of 1.2% for October 2025. This growth comes despite ongoing economic uncertainty, including a government shutdown.

NAR Report: October Existing-Home Sales Rise by 1.2%

In October, existing-home sales reached a seasonally adjusted annual rate of 4.10 million. This figure represents a 1.7% increase compared to the same month last year. NAR’s Chief Economist, Lawrence Yun, noted that lower mortgage rates have benefitted homebuyers.

Regional Sales Trends

Midwest: Recorded a month-over-month sales increase of 5.3%, reaching an annual rate of 990,000, and a year-over-year rise of 2.1%.
South: Experienced a 0.5% increase in sales, reaching an annual rate of 1.86 million, up 2.8% compared to last year.
Northeast: Sales remained stable month-over-month at an annual rate of 490,000, reflecting a 4.3% year-over-year increase.
West: Saw a decline of 1.3% in sales, with an annual rate of 760,000, down 2.6% from October 2024.

Home Price and Inventory Overview

The median existing-home price increased to $415,200, marking a 2.1% rise from the previous year. This is the 28th consecutive month of year-over-year price hikes.

Single-family Homes: Sales increased by 0.8% to a seasonally adjusted annual rate of 3.71 million. The median price rose to $420,600.
Condominiums and Co-ops: Sales jumped 5.4%, remaining steady at 390,000 units sold. The median price for this segment was recorded at $363,700.

Inventory Insights

As of October, total housing inventory was approximately 1.52 million units. This is a slight decrease of 0.7% from September and a notable increase of 10.9% compared to October 2024. The market currently has a 4.4-month supply of unsold homes.

Buyer Trends and Market Time

First-time homebuyers represented 32% of the market, increasing from 30% in July.
The median time homes spent on the market rose to 34 days, up from 33 days in September.

Mortgage rates averaged 6.25% in October, a decline from 6.35% in September and 6.43% a year prior. This drop is anticipated to enhance affordability and encourage new buyers to enter the market.

In summary, the October report reflects a slight growth in existing-home sales, driven by favorable mortgage rates despite regional disparities in performance. For more updates and local market insights, visit El-Balad.