The National Association of Realtors is reporting that existing home sales were down 2.7% in June, 2025 to a seasonally-adjusted annual rate of 3.93 million. Total housing inventory at the end of June was 1.53 million units, down 0.6% from May and up 15.9% from one year ago. Unsold inventory sits at a 4.7-month supply at the current sales rate with properties remaining on the market for around 27 days. The median existing-home price for all housing types in June was $435,300 – a record high. The NAR says under-supply is driving record high prices.
“Multiple years of undersupply are driving the record high home price. Home construction continues to lag population growth. This is holding back first-time home buyers from entering the market. More supply is needed to increase the share of first-time homebuyers in the coming years even though some markets appear to have a temporary oversupply at the moment.” Said the NAR’s Chief Economist, Lawrence Yun.
Click here to read the full release at the National Association of Realtors.
