Research and Statistics

Existing-home sales ticked up by 0.8% from April to a seasonally adjusted rate of 4.03 million in May 2025. Year-over-year, sales declined 0.7%. According to NAR Chief Economist Lawrence Yun, "The relatively subdued sales are largely due to persistently high mortgage rates. Lower interest rates will attract more buyers and sellers to the housing market. Increasing participation in the housing market will increase the mobility of the workforce and drive economic growth."

In May 2025, all four U.S. regions experienced month-over-month gains in transactions. Year-over-year, contract signings rose in the Midwest and South but descended in the Northeast and West. According to NAR Chief Economist Lawrence Yun, "Consistent job gains and rising wages are modestly helping the housing market, with hourly wages increasing faster than home prices. However, mortgage rate fluctuations are the primary driver of homebuying decisions and impact housing affordability more than wage gains.”"