WRE NEWS March 22, 2025
Seller
Existing home sales jumped 4.2% from January to February, reaching a seasonally adjusted annual rate of 4.26 million in February. According to data from the National Association of Realtors (NAR), year-over-year sales were down by 1.2% from 4.31 million in February 2024.
The total housing inventory by the end of February was 1.24 million units, up 5.1% from January and 17% from the 1.06 million level one year earlier. Unsold inventory is at a 3.5-month supply at the current sales pace, unchanged from the prior month and up from 3.0 months in February 2024.
The median existing-home price for all housing types in February was $398,400, up 3.8% from the $383,800 price from one year ago. First-time buyers were responsible for 31% of sales in February, up from 28% in January 2025 and 26% in February 2024. Cash sales accounted for 32% of transactions in February, up from 29% in January but down from 33% in February 2024. And distressed sales accounted for 3% of transactions.
“Each one percentage point gain in home price translates into an approximately $350 billion increase in housing equity for American property owners,” said NAR Chief Economist Lawrence Yun. “That means a gain of nearly $1.3 trillion in home value appreciation at a time when the current stock market is undergoing a correction. Moreover, the ongoing housing shortage, coupled with historically low mortgage default rates, implies a solid foundation for home values.”
Stay up to date on the latest real estate trends.
Buyer
August 29, 2025
You may have seen talk online that new home inventory is at its highest level since the crash.
Buyer
August 29, 2025
It’s not unusual for designers to use their own homes as a mad laboratory, fiddling with new materials, half-baked ideas, and “could this work?
Lifestyle
August 28, 2025
It just happens that one of the most accessible and budget-friendly forms of exercise is also the most beneficial for your health: walking.
Seller
August 28, 2025
Now that the market is slowing down, homeowners who haven’t sold at the price they were hoping for are increasingly pulling their homes off the market.
Buyer
August 26, 2025
Sales of new single-family houses in July were at a seasonally adjusted annual rate of 652,000, according to estimates released jointly today by the US Census Bureau a… Read more
Buyer
August 26, 2025
If you’re still worried about having to deal with a bidding war when you buy a home, you may be able to let some of that fear go.
We Guide Homeowners through the complicated process of selling their home using our 4 Phase Selling Process and 3 Prong Marketing Strategy that alleviates their stress and moves them effortlessly to their next destination. Schedule a 15 Minute Complimentary Strategy Session Today