March 2025 Monthly Statistics

U.S. existing-home sales rebounded from the previous month, rising 4.2% to a seasonally adjusted annual rate of 4.26 million units, according to the National Association of REALTORS® (NAR). This came as a surprise, as economists polled by Reuters had forecasted a decline to 3.95 million units. Sales activity increased in the South and the West, decreased in the Northeast, and remained unchanged in the Midwest.

New listings saw a slight decline—down 0.9% for Single Family homes and 15.3% for Condominium homes. Pending sales also dropped, falling 5.8% for Single Family homes and 2.5% for Condominium homes. Inventory, however, rose significantly, increasing by 54.8% for Single Family homes and 72.1% for Condominiums.

The median sales price dipped slightly, down 0.3% to $1,295,000 for Single Family homes and down 36.8% to $822,500 for Condominiums. Days on Market dropped 17.8% for Single Family homes but rose sharply—70.6%—for Condominiums. The Months Supply of Inventory also increased, up 70.5% for Single Family homes and 131.3% for Condominiums.

Heading into March, there were 1.24 million properties for sale—a 5.1% increase from the previous month and a 17% jump from a year ago—resulting in a 3.5-month supply at the current sales pace, according to NAR. Despite mortgage rates staying in the mid-to-high 6% range, the increased supply appears to be drawing more buyers into the market, even as prices continue to trend upward nationwide.

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