Research and Statistics

Existing-home sales fell 5.9% month-over-month to a seasonally adjusted rate of 4.02 million in March 2025. Year-over-year, sales drew back 2.4%. According to NAR Chief Economist Lawrence Yun, “Home buying and selling remained sluggish in March due to the affordability challenges associated with high mortgage rates. Residential housing mobility, currently at historic lows, signals the troublesome possibility of less economic mobility for society.”

In March 2025, the Northeast experienced month-over-month losses in transactions, while the Midwest, South, and West saw gains, which were most substantial in the South. According to NAR Chief Economist Lawrence Yun, "Home buyers are acutely sensitive to even minor fluctuations in mortgage rates. While contract signings are not a guarantee of eventual closings, the solid rise in pending home sales implies a sizable build-up of potential home buyers, fueled by ongoing job growth."