Housing Market Update June 2025
In the U.S., the number of homes sold in April went down a little—0.5% compared to last month and 2.0% compared to last year. According to the National Association of REALTORS®, sales went up in the Midwest, stayed the same in the South, and went down in the West and Northeast. Over the past year, only the Northeast saw more home sales.
Detached homes (like single-family houses) had 8.6% fewer sales, and attached homes (like condos or townhomes) had 10% fewer. Fewer homes also went under contract: down 9.7% for detached and 12.2% for attached.
The median sale price for detached homes went up 4.6% to $1,250,000, while the price for attached homes went down 9.1% to $750,000. Homes are sitting on the market longer before they sell—almost 9% longer for detached and nearly 43% longer for attached homes. There are also more homes for sale: 10% more detached homes and 37.5% more attached homes than before.
There were 1.45 million homes available for sale at the beginning of May—up 9% from the month before and up 21% from last year. At the current pace of sales, that’s enough homes to last about 4.4 months. The typical U.S. home now costs $414,000, which is a record high for this time of year and marks 22 months in a row that prices have gone up compared to the year before.
Please reach out to me for further updates and insights on the evolving housing market.
