US Existing Home Sales at 7-Month Low

2025-05-22 14:08 By Joana Taborda 1 min. read

Existing home sales in the US declined 0.5% mom to a seasonally adjusted rate of 4.00 million in April 2025, the lowest in seven months, compared to 4.020 million in March and forecasts of 4.1 million, restrained by high mortgage rates.

Sales dipped in the Northeast (-2%) and West (-3.9%), grew in the Midwest (2.1%) and were unchanged in the South.

Total housing inventory was 1.45 million units, up 9% from March.

The median existing-home price for all housing types was $414,000, up 1.8% from one year ago.

"Home sales have been at 75% of normal or pre-pandemic activity for the past 3 years, even with 7 million jobs added to the economy.

Pent-up housing demand continues to grow, though not realized.

Any meaningful decline in mortgage rates will help release this demand.

At the macro level, we are still in a mild seller's market.

But with the highest inventory levels in nearly 5 years, consumers are in a better situation to negotiate for better deals", said NAR Chief Economist Yun.



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