Research and Statistics

Existing-home sales rose 4.2% month-over-month to a seasonally adjusted rate of 4.26 million in February 2025. Year-over-year, sales fell 1.2%. According to NAR Chief Economist Lawrence Yun, "Home buyers are slowly entering the market. Mortgage rates have not changed much, but more inventory and choices are releasing pent-up housing demand."

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."