Existing Home Sales Tick Up Slightly, but Remain Near 6-Month Lows

Two months ago, existing home sales reached the highest levels in a year according to the National Association of Realtors. Last month’s report showed a noticeable dip to 5‑month lows. The latest data, released June 23, is more subdued. Sales held near 6‑month lows in May, with a seasonally adjusted annual rate of 4.03 million—essentially unchanged from April with a modest 0.8% month‑over‑month increase, and still down 0.7% year‑over‑year As has been and continues to be the case, zooming out on the same chart results in an entirely different impression of the home resale market. Sales levels have hovered near 75% of pre-pandemic norms for three years now. “Home sales refuse to break out,” said NAR Chief Economist Lawrence Yun. “Inventory is up, and home prices are showing further gains. The market is at an interesting point with rising supply and increasing demand.” Regional Breakdown (Sales and Prices, May 2025) Region Sales (annual rate) MoM Change Median Price YoY Change Northeast 500,000 +4.2% $513,300 +7.1% Midwest 990,000 +2.1% $326,400 +3.4% South 1.84 million +1.7% $367,800 -0.7% West 700,000 -5.4% $633,500 +0.5%