United States Existing Home Sales

Existing home sales in the US rose by 4.2% from the previous month to a seasonally adjusted annualized rate of 4.26 million homes in February of 2025, rebounding from the downwardly revised 4.7% drop in the previous month and firmly above market expectations that they would decline to 3.95 million. "Home buyers are slowly entering the market," said NAR Chief Economist Lawrence Yun. "Mortgage rates have not changed much, but more inventory and choices are releasing pent-up housing demand." The median price for existing home sales was at $398,400, a 3.8% increase from the previous year. In the meantime, the inventory of unsold homes rose 5.1% from the previous month to 1.24 million, equivalent to 3.5 months of supply at the current sales pace.