Cover of the NAR Monthly Research Update report
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Each month, the Research Update report provides a summary of the data, reports, blog posts, and instant reactions produced by NAR's research team.

April 2025

Data

Existing-Home Sales

Existing-home sales declined in March. Sales slid in all four major U.S. regions. Year-over-year sales dropped in the Midwest and South, increased in the West, and were unchanged in the Northeast. Total existing-home sales fell 5.9% from February to a seasonally adjusted annual rate of 4.02 million in March. Year-over-year sales drew back 2.4% (down from 4.12 million in March 2024).

Pending Home Sales

Pending home sales increased 6.1% in March, the greatest month-to-month increase since December 2023 (+7.0%). The Northeast experienced month-over-month losses in transactions, while the Midwest, South, and West saw gains, which were most substantial in the South. Year-over-year contract signings grew in the Midwest but fell in the Northeast, South, and West, with the Northeast undergoing the greatest decrease. Year over year, pending transactions lessened by 0.6%.

Housing Affordability Index

The housing affordability index increased to 102.2 in February from 101.7 in January. 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

Fifty-seven percent of respondents reported that properties sold in less than one month. This is up from a month ago (50%) but down from 60% one year ago. First-time buyers represented 32% of buyers, up slightly from 31% last month and unchanged from 32% one year ago. Twenty-six percent of buyers had all-cash sales, down from 32% one month ago and from 28% one year ago.

Metro Market Statistics

Use the data visualization to get your local area's most recent housing, demographic, economic, and affordability statistics.

 

Reports

Articles on the Economy

Instant Reactions

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