Highest Existing Home Sales in 8 Months But Don't Get Excited

Existing-home sales extended their recent stabilization in November, rising 0.5% to a seasonally adjusted annual rate of 4.13 million , according to the National Association of Realtors (NAR). This is the 3rd straight increase and annualized sales are at their highest level in 8 months. The catch is that--much like several other housing metrics--Existing Sales have been stuck in the lowest of gears since late 2022. As long as we continue to operate in this range, it's difficult to draw any conclusions about bigger picture momentum. “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.” Regional Breakdown (Sales and Prices, November 2025) Region Sales (annual rate) MoM Change Median Price YoY Change Northeast 510k +4.1% $480,800 +1.1% Midwest 970k -2.0% $319,400 +5.8% South 1.89m +1.1% $361,000 +0.8% West 760k 0.0% $618,900 -0.9%