Existing-home sales fell 0.5% from March to April to a seasonally adjusted annual rate of 4.00 million, according to the National Association of Realtors.
National sales decreased 2.0%, or 4.08 million, from April 2024 to April 2025.
The median existing-home sales price rose 1.8% year-over-year to $414,000, an all-time high for April and the 22nd consecutive month of year-over-year price increases.
The inventory of unsold existing homes increased 9.0% from the previous month to 1.45 million in April. Unsold inventory sits at a 4.4-month supply, up from 4.0 months in March and 3.5 months in April 2024.
"Home sales have been at 75% of normal or pre-pandemic activity for the past three years, even with seven million jobs added to the economy," NAR Chief Economist Lawrence Yun said in a statement. "Pent-up housing demand continues to grow, though not realized. Any meaningful decline in mortgage rates will help release this demand."
Read the full report here.
