From GlobeNewswire: 2025-04-24 10:00:00

Existing-home sales in the U.S. dropped 5.9% in March to a rate of 4.02 million, a 2.4% decrease from last year. The median home price reached an all-time high of $403,700, up 2.7% from March 2024. Inventory increased by 8.1% to 1.33 million homes, representing a 4.0 months’ supply. Sales declined in all regions, with the West showing an increase. The housing market remains solid, with a median home price gain slightly below wage growth. First-time buyers accounted for 32% of sales, while cash sales decreased to 26%. Mortgage rates averaged 6.83%. Existing-home sales data is based on transaction closings from Multiple Listing Services, capturing changes in sales trends within MLSs. The annual rate represents the total number of actual sales for a year if the relative pace for that month is maintained for 12 consecutive months. Single-family data collection began monthly in 1968 and condo data collection began quarterly in 1981, combining in 1999. Total inventory and month’s supply data are available back through 1999. The national median condo/co-op price is typically higher than single-family home prices due to market differences. Survey results represent primary residence purchases only, not including investor or vacation home buyers.



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