May 2025 Monthly Statistics

U.S. existing-home sales dipped 0.5% month-over-month and 2.0% year-over-year to a seasonally adjusted annual rate of 4.00 million units, according to the National Association of REALTORS® (NAR). Sales increased in the Midwest, declined in the West and Northeast, and remained unchanged in the South. Compared to the previous year, sales were down in every region except the Northeast.

New listings decreased by 9.9% for single-family homes and 33.9% for condominiums. Pending sales declined 16.7% for single-family homes but rose 14.8% for condominiums. Inventory saw a notable increase, rising 38.5% for single-family homes and 37.8% for condominiums.

The median sales price increased 0.4% to $1,300,000 for single-family homes, but dropped 10.3% to $762,500 for condominiums. Days on market increased by 40.8% for single-family homes and 38.0% for condominiums. The months supply of inventory rose 58.0% for single-family homes and 73.0% for condominiums.

Heading into May, there were 1.45 million units actively for sale—a 9.0% increase from the previous month and a 20.8% gain year-over-year—providing a 4.4-month supply at the current sales pace, according to NAR. The national median existing-home price rose 1.8% year-over-year to $414,000, marking the 22nd consecutive month of annual price increases and setting a new record high for May.

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