U.S. existing-home sales edged down 1.7% from the previous month to a seasonally adjusted annual rate of 4.06 million units, according to the National Association of REALTORS® (NAR). Regionally, sales increased in the Northeast, held steady in the West, and declined in the Midwest and South. On a year-over year basis, sales rose in the Midwest and West while remaining flat in the Northeast and South.
•Single Family Closed Sales were down 0.3 percent to 5,650.
• Townhouse-Condo Closed Sales were down 8.6 percent to 1,576.
• Adult Communities Closed Sales were down 2.2 percent to 655.
• Single Family Median Sales Price increased 3.1 percent to $644,500.
• Townhouse-Condo Median Sales Price remained flat at $440,000.
• Adult Communities Median Sales Price decreased 1.3 percent to $375,000.
Nationally, the median existing-home sales price climbed to $431,400, as inventory remained at a 4.6-month supply at the current sales pace, NAR reported. Year-to-date sales are up 2.4%, reflecting stable demand even amid elevated mortgage rates. Homes are sitting on the market longer and fewer buyers are bidding above asking price compared to a year earlier, though local market conditions vary widely.