Research and Statistics

Existing-home sales slid 0.5% month-over-month to a seasonally adjusted rate of 4.00 million in April 2025. Year-over-year, sales retreated 2.0%. According to NAR Chief Economist Lawrence Yun, "Home sales have been at 75% of normal or pre-pandemic activity for the past three years, even with seven million jobs added to the economy. Pent-up housing demand continues to grow, though not realized. Any meaningful decline in mortgage rates will help release this demand."

In April 2025, all four U.S. regions experienced month-over-month losses in transactions. According to NAR Chief Economist Lawrence Yun, "At this critical stage of the housing market, it is all about mortgage rates. Despite an increase in housing inventory, we are not seeing higher home sales. Lower mortgage rates are essential to bring home buyers back into the housing market."