Existing Home Sales Hit 8-Month High as Buyers Return

Market News
Written By Jennifer Patel

The newest NAR report shows a meaningful shift: existing home sales climbed to an eight-month high, illustrating renewed traction in the resale market.

Several forces are driving the momentum:

  • Mortgage rates are 0.75% lower YOY, easing payment pressure

  • Inventory is up ~9% YOY, giving buyers more choice

  • Nationwide price cuts average $25,000

  • 32% of recent buyers were first-time homeowners

Regionally, the Midwest saw the biggest jump (+5.3%), followed by modest gains in the South, a flat Northeast, and a slight slip in the West.

Why It Matters

Buyer leverage is improving for the first time in years — and this late-year strength often carries into Q1.

Jennifer Patel
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