Overview
- Existing-home sales rose 0.5% to a 4.13 million annual pace in November, the third straight monthly gain but still 1% below a year earlier.
- Listings fell to 1.43 million, down 5.9% from October yet up 7.5% year over year, equal to 4.2 months of supply as many owners delisted for winter, according to NAR.
- The national median price reached $409,200, up 1.2% from November 2024 and a record for the month, while median days on market increased to 36 from 32 a year ago.
- Mortgage rates eased into the low‑6% range compared with midyear peaks, aiding some closings even as a softer labor backdrop tempered demand.
- First-time buyers held at 30% of sales versus a historical ~40% norm, investors rose to 18%, and sales grew in the Northeast and South, were flat in the West, and declined in the Midwest.