Existing-home sales increased by 0.5% in November, according to the National Association of REALTORS® Existing-Home Sales Report. The Report provides the real estate ecosystem, including agents and homebuyers and sellers, with data on the level of home sales, price, and inventory.

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.

"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."

"Wage growth is outpacing home price gains, which improves housing affordability. Still, future affordability could be hampered if housing supply fails to keep pace with demand," Yun added. "As has been the case throughout the year, single-family home sales outperformed condominium sales in November. The typical price of a sold condo was 13.5% lower than the typical price of a single-family home. However, the purchase price does not include the condominium association fees, which are rising and making these purchases more expensive."

National Snapshot

Total Existing-Home Sales for November

• 0.5% increase in existing-home salesmonth over month to a seasonally adjusted annual rate of 4.13 million.
• 1.0% decrease in sales year over year.

Inventory in November

• 1.43 million units: Total housing inventory, down 5.9% from October and up 7.5% from November 2024 (1.33 million).
• 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 in November

• $409,200: Median existing-home pricefor all housing types, up 1.2% from one year ago ($404,400) – the 29th consecutive month of year-over-year price increases.

Single-Family and Condo/Co-op Sales

Single-Family Homes in November

• 0.8% increase in sales month over month to a seasonally adjusted annual rate of 3.75 million, down 0.8% from November 2024.
• $414,300: Median home price in November, up 1.2% from last year.

• 2.6% decrease in sales month over month and year over year to a seasonally adjusted annual rate of 380,000.
• $358,600: Median price, up 0.1% from November 2024.

Regional Snapshot for Existing-Home Sales in November

Northeast

• 4.1% increase in sales month over month to an annual rate of 510,000, unchanged year over year.
• $480,800: Median price, up 1.1% from November 2024.

Midwest

• 2.0% decrease in sales month over month to an annual rate of 970,000, down 3.0% year over year.
• $319,400: Median price, up 5.8% from November 2024.

South

• 1.1% increase in sales month over month to an annual rate of 1.89 million, unchanged year over year.
• $361,000: Median price, up 0.8% from November 2024.

West

• No change in sales month over month for an annual rate of 760,000, down 1.3% year over year.
• $618,900: Median price, down 0.9% from November 2024.

REALTORS® Confidence Index for November

• 36 days: Median time on market for properties, up from 34 days last month and 32 days in November 2024.
• 30% of sales were first-time homebuyers, unchanged from November 2024 and down from 32% last month.
• 27% of transactions were cash sales, down from 29% a month ago and up from 25% in November 2024.
• 18% of transactions were individual investors or second-home buyers, up from 16% last month and from 13% in November 2024.
• 2% of sales were distressed sales(foreclosures and short sales), unchanged from a month ago and November 2024.

Mortgage Rates

• 6.24%: The average 30-year fixed-rate mortgagein November, according to Freddie Mac, down from 6.25% in October and 6.81% one year ago.

About the National Association of REALTORS®

The National Association of REALTORS® is involved in all aspects of residential and commercial real estate. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics. For free consumer guides about navigating the homebuying and selling transaction processes – from written buyer agreements to negotiating compensation – visit facts.realtor.