Each month, the Research Update report provides a summary of the data, reports, blog posts, and instant reactions produced by NAR's research team.
Data
Existing-Home Sales
Existing-home sales decreased by 2.7% in June. Month-over-month sales declined in the Northeast, Midwest, and South and rose modestly in the West. Year-over-year, sales fell in the Northeast and West, while rising in the Midwest and South.
Pending Home Sales
Pending home sales decreased by 0.8% in June from the prior month and 2.8% year-over-year. Month-over-month and year-over-year pending sales declined in the Midwest, South, and West. In the Northeast, pending sales rose month-over-month but remained flat year-over-year.
Housing Affordability Index
The housing affordability index slid to 97.2 in May from 101.0 in April. An index above 100 means that a family with a median income has more than the income required to afford a median-priced home.
REALTORS® Confidence Index
First-time buyers represented 30% of buyers, flat from 30% last month and up slightly from 29% one year ago. 59% of respondents reported that properties sold in less than one month. This is flat from a month ago (60%) and down from 65% one year ago. 29% of buyers had all-cash sales, up slightly from 27% one month ago and from 28% one year ago.
Metro Market Statistics Dashboard
NAR has created an interactive dashboard that allows you to access the most recent housing, demographic, economic, and affordability statistics for your local area—login required.
How REALTORS® Can Use This
REALTORS® can use existing-home sales and pending home sales data to gauge current demand trends and anticipate market shifts. They can also utilize the affordability and quarterly data to identify pricing patterns and assess buyer capacity across different regions to adapt strategies for their clients.
Reports
- Median Home Prices and Mortgage Payments by County
- June 2025 Commercial Real Estate Market Insights
- International Transactions in U.S. Residential Real Estate
How REALTORS® Can Use This
REALTORS® can leverage NAR reports to provide clients with data-driven insights on specific market conditions and equip themselves with important knowledge about the market. This empowers members to assist buyers and sellers in making informed decisions regarding timing, pricing, and location.
Articles on the Economy
- Tracking Unemployment Insurance Claims: Week of July 5, 2025
- Ask the Economist: What Are Common Myths About First-Time Home Buyers?
- Ask the Economist: What Advice Do You Have for First-Time Home Buyers?
- Tackling Home Financing and Down Payment Misconceptions
- Ask the Economist: What Is the Outlook for Mortgage Rates and Home Sales?
Instant Reactions
How REALTORS® Can Use This
REALTORS® can use the Economists’ Outlook blog to stay updated on experts’ commentary, economic forecasts, housing market outlooks, and regional trends, and then use these insights to help clients on timing purchases or sales based on anticipated market movement. By sharing analysis of the housing market and translating it into consumer-friendly guidance, agents can build credibility and empower their clients to navigate the housing market with confidence.