Overview
- Sales rose 0.5% from October to a 4.13 million annual rate, yet trailed November 2024 by 1.0%.
- Listings totaled 1.43 million, up 7.5% year over year but down 5.9% from October, equal to 4.2 months of supply, and NAR says growth is beginning to stall.
- The median price reached $409,200, up 1.2% from a year earlier and the highest November level on record.
- Mortgage rates remain above 6% and a softer labor market is curbing demand, according to data cited by NAR and Freddie Mac.
- First-time buyers made up 30% of sales, all-cash deals were 27%, investors accounted for 18%, and distressed transactions held at 2%.