Existing-home sales increased 4.2% in February, marking 20 months of year-over-year price hikes.

From GlobeNewswire: 2025-03-20 10:00:00

Existing-home sales rose by 4.2% in February to a rate of 4.26 million, with a median sales price of $398,400, marking the 20th straight month of year-over-year price increases. Inventory climbed to 1.24 million homes, a 5.1% increase from the previous month. The Northeast saw a 2.0% sales decrease, the Midwest remained stable, the South increased by 4.4%, and the West saw a 13.3% jump in existing-home sales. This increase is attributed to more inventory and choices in the market, releasing pent-up housing demand. First-time buyers accounted for 31% of sales in February. Existing-home sales data for the month of June show an increase of 1.4% from May, reaching a seasonally adjusted annual rate of 5.86 million. The median existing-home price in June was $363,300, up 23.4% from June 2020. First-time buyers accounted for 31% of sales in June, while all-cash transactions made up 23% of sales. The national median condo/co-op price was higher than the median single-family home price due to higher-cost housing markets. The data represents owner-occupants and primary residence purchases only, excluding investor and vacation home buyers. Full survey results are available on nar.realtor.



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