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 increased by 2.0% in July. Month-over-month sales increased in the Northeast, South, and West, and fell in the Midwest. Year-over-year, sales rose in the South, Northeast, and Midwest, and fell in the West.
Pending Home Sales
Pending home sales decreased by 0.4% in July from the prior month and rose 0.7% year-over-year. Pending sales declined month-over-month in the Northeast and Midwest, held essentially flat in the South, and rose in the West. Year-over-year, sales decreased in the Northeast and West but increased in the Midwest and South.
Housing Affordability Index
The housing affordability index slid to 94.4 in June from 97.0 in May. 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 28% of buyers, down slightly from 30% last month and 29% a year ago. 58% of respondents reported that properties sold in less than one month. This is relatively unchanged from a month ago (59%) and down from 62% one year ago. 31% of buyers had all-cash sales, up slightly from 29% one month ago and from 27% one year ago.
Metro Market Statistics Dashboard
Use the data visualization to get your local area's most recent housing, demographic, economic, and affordability statistics—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.
Videos
- Ask the Economist: Will an Increase in Unqualified Buyers Making Larger Down Payments Drive Up Home Prices as We Saw in 1995 to 2005?
- Ask the Economist: Given Their Low Fees, Will Home Buying Services Capture the Business of Marketing Properties to Consumers?
- Ask the Economist: Given the Current Stock Market Volatility, How Many Buyers Are Using Their Portfolios for Higher Down Payments?
How REALTORS® Can Use This
“Ask the Economist” is a new video series that gives REALTORS® a quick, easy-to-digest update straight from NAR’s Research Team on new economic trends and market activity. REALTORS® can use this in listing appointments to show buyers/sellers they’re up-to-date on interest rates, housing inventory, etc.; buyer consultations to explain why now might be a good time to act or wait based on real data; email follow-ups: “Here’s what NAR’s latest economist update says about local trends.”
Reports
- Metro Market Statistics Dashboard
- July 2025 Commercial Real Estate Market Insights
- Highlights from the NAR Member Profile
- Residential Real Estate Market Snapshot
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 August 9, 2025
- June's Housing Affordability Improves Despite Rising Home Prices
- Housing Shortage Tracker: Notable Improvements in Major Markets in Q2 2025
- What Is the Truth Behind Terminated Contracts and Distressed Sales Numbers?
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.