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). Economists polled by Reuters had forecast sales would fall to a rate of 3.95 million for the month. Purchase activity increased in the South and the West but decreased in the Northeast, while sales in the Midwest remained unchanged from one month earlier.
Single Family 2024 2025 Change
New Listings 6,323 7,058 + 11.6%
Pending Sales 4,919 5,116 + 4.0%
Closed Sales 3,873 3,789 – 2.2%
Median Sales Px $520K $560K + 7.8%
Avg Sales Px $644,K $741K + 15.0%
Homes for Sale 14,086 13,352 – 5.2%
Months Supply 3.0 2.8 – 6.7%
Heading into March there were 1.24 million properties for sale, a 5.1% increase from the previous month and a 17% jump from one year ago, for a 3.5-month supply at the current sales pace, according to NAR. While mortgage rates have remained in the mid-to-high 6% range, the additional supply appears to have helped bring some buyers out of the woodwork, even as sales prices continue to rise nationwide.