Research and Statistics

Month-over-month sales increased in all regions. Year-over-year sales increased in the South, remained flat in the Midwest and West, and decreased in the Northeast. “2025 was another tough year for homebuyers, marked by record-high home prices and historically low home sales. However, in the fourth quarter, conditions began improving, with lower mortgage rates and slower home price growth. December home sales, after adjusting for seasonal factors, were the strongest in nearly three years. The gains were broad-based, with all four major regions improving from the prior month,” says NAR Chief Economist Lawrence Yun.

In November 2025, month-over-month and year-over-year pending home sales rose in the Northeast, Midwest, South, and West. According to NAR Chief Economist Lawrence Yun, "Homebuyer momentum is building. The data shows the strongest performance of the year after accounting for seasonal factors, and the best performance in nearly three years, dating back to February 2023. Improving housing affordability–driven by lower mortgage rates and wage growth rising faster than home prices–is helping buyers test the market. More inventory choices compared to last year are also attracting more buyers to the market."