Monthly Market Update

Homebuying activity picked up in November as election uncertainty dissipated and buyers grew more accustomed to elevated mortgage rates. Existing home sales for the full year will likely be in line with 2023 levels, but we expect activity to tick up in 2025. Existing home sales rose 0.7% month over month in November to a

Existing home sales rose 1.6% month over month in October to a seasonally adjusted annual rate of 4,179,346. Many buyers who came off the sidelines when mortgage rates bottomed in September finalized their purchases in October, causing sales to rise. But rates jumped last month, which—along with election jitters—put a damper on demand; pending sales

Pending sales rose 2.5% month over month as mortgage rates hit a two-year low and the Federal Reserve cut interest rates. Rates have since ticked up. Existing home sales, which are a lagging indicator, fell to a seasonally adjusted annual rate of 4,023,067. That’s the lowest level on record aside from the start of the

Sales of existing homes dropped 1% month over month in August to a seasonally adjusted annual rate of 4 million, while pending sales fell 2%. Declining mortgage rates are giving buyers more purchasing power, but some house hunters are waiting on the sidelines in hopes that rates will fall further. Others are hesitant to buy

Sales of existing homes fell 2% year over year to a seasonally adjusted annual rate of 4.1 million in July. Pending sales were down 3% month over month and 6% year over year—both of which were the biggest drops in nearly a year. Home prices were just 0.7% below their record high—one reason buyers stayed