Existing-Home Sales Strengthen in December, Full-Year 2025 Matches 2024 Total

Sales of previously owned homes in the United States increased in December 2025, reaching the strongest pace in nearly three years. For the full year, the total number of sales matched the previous year's figure.

December Sales Performance

In December, existing-home sales rose to a seasonally adjusted annual rate of 4.35 million, according to data from the National Association of Realtors. This represents a 5.1% increase from November and a 1.4% increase from December 2024. The monthly gain exceeded the 2% increase projected by some analysts.

Sales activity increased across all regions compared to November.

On a year-over-year basis, sales increased in the South, remained unchanged in the Midwest and West, and decreased in the Northeast. (Note: Source 1 reports annual gains in the Northeast and Midwest with declines in the South and West, while Source 2 reports the opposite for the Northeast and South.)

Full-Year 2025 Context

For the entire calendar year of 2025, an estimated 4.06 million existing homes were sold. This total matches the sales volume recorded in 2024.

Lawrence Yun, chief economist for the National Association of Realtors, stated that 2025 was characterized by high home prices and low sales volumes. He noted that market conditions showed improvement in the fourth quarter, which he attributed to lower mortgage rates and a deceleration in home price growth.

Key Market Indicators for December

Inventory: The total housing inventory at the end of December was 1.18 million units, an 18.1% decrease from November but a 3.5% increase from December 2024.
Supply: The unsold inventory represents a 3.3-month supply at the current sales pace, down from 4.2 months in November.
Mortgage Rates: The average commitment rate for a 30-year fixed mortgage was 6.19% in December, down from 6.24% in November and 6.72% in December 2024. The reported sales are based on closings, meaning contracts were likely signed in October and November when rates were between approximately 6.2% and 6.3%.

Home Prices by Category

The median existing-home price for all housing types in December was $405,400, a 0.4% increase from December 2024. This marks the 30th consecutive month of year-over-year price increases.

Single-Family Homes: The median price was $409,500, up 0.2% from a year ago.
Condominiums and Co-ops: The median price was $364,400, up 1.5% from a year ago.

Regional Sales and Price Details

Northeast: Sales rose 2.0% from November but fell 1.9% from December 2024. Median price: $496,700, up 3.7% year-over-year.
Midwest: Sales decreased 2.0% month-over-month and were unchanged year-over-year. Median price: $306,000, up 3.1% year-over-year.
South: Sales increased 6.9% month-over-month and 3.6% year-over-year. Median price: $360,200, down 0.3% year-over-year.
West: Sales increased 6.6% month-over-month and were unchanged year-over-year. Median price: $605,600, down 1.4% year-over-year.