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 February 2025, the Northeast and West regions of the U.S. experienced month-over-month losses in transactions, with a larger decrease in the West, while the Midwest and South saw gains–greatest in the South. According to NAR Chief Economist Lawrence Yun, "Despite the modest monthly increase, contract signings remain well below historical levels. A meaningful decline in mortgage rates would help both demand and supply—demand by boosting affordability, and supply by lessening the power of the mortgage rate lock-in effect."