US Existing-Home Sales Increase 4.8% in November

On Thursday, the National Association of Realtors® (NAR) reported that total existing-home sales—which include completed transactions for single-family homes, townhomes, condominiums, and co-ops—increased 4.8% in November, reaching a seasonally adjusted annual rate of 4.15 million. Year-over-year, sales increased 6.1%, up from 3.91 million in November 2023.

Sales improved in three regions and held steady in the West. Year-over-year, sales increased in all four regions.

Total housing inventory registered at the end of November was 1.33 million units, down 2.9% from October but up 17.7% from one year ago (1.13 million units). Unsold inventory sits at a 3.8-month supply at the current sales pace, down from 4.2 months in October but up from 3.5 months in November 2023.

The median existing-home price for all housing types in November was $406,100, up 4.7% from one year ago ($387,800). All four regions registered price increases.

According to the monthly REALTORS® Confidence Index, properties typically remained on the market for 32 days in November, up from 29 days in October and 25 days in November 2023.