Updated: 23-Jun-25 11:09 ETHighlights
- Existing home sales increased 0.8% month-over-month in May to a seasonally adjusted annual rate of 4.03 million (Briefing.com consensus 3.94 million) from an unrevised 4.00 million in April.
- Sales were down 0.7% from the same period a year ago.
- The median existing home sales price for all housing types increased 1.3% year-over-year to a May record of $422,800, marking the twenty-third consecutive month of year-over-year price increases. The median price for single-family homes rose 1.3% to $427,800.
- Existing home sales month-over-month across regions: Northeast (+4.2%); Midwest (+2.1%); South (+1.7%); and West (-5.4%).
- Median home prices by region year-over-year: Northeast (+7.1% to $513,300); Midwest (+3.4% to $326,400); South (-0.7% to $367,800); and West (+0.5% to $633,500).
- The inventory of homes for sale at the end of May was 1.54 million units, up 6.2% from April and up 20.3% from a year ago.
- Unsold inventory sits at a 4.6-month supply at the current sales pace, up from 4.4 months in April and from 3.8 months a year ago. This remains below the 6.0-month supply typically associated with a more balanced market.
- First-time buyers accounted for 30% of transactions in May, down from 34% in April and 31% a year ago.
- All-cash sales made up 27% of transactions in May, up from 25% in April and down from 28% a year ago.
- The key takeaway from the report is that the inventory of existing homes for sale is rising, yet overall demand remains subdued because of affordability constraints stemming from high prices and high mortgage rates.
| Category | MAY | APR | MAR | FEB | JAN |
| Existing Home Sales | 4.03M | 4.00M | 4.02M | 4.27M | 4.09M |
| Months Supply | 4.6 | 4.4 | 4.0 | 3.5 | 3.5 |
| Median Price Y/Y | 1.3% | 1.8% | 2.6% | 3.4% | 3.9% |
