by Calculated Risk on 6/13/2025 02:33:00 PM
From housing economist Tom Lawler:
Based on publicly-available local realtor/MLS reports released across the country through today, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 4.03 million in May, up 0.75% from April’s preliminary pace and down 0.74%% from last May’s seasonally adjusted pace. Unadjusted sales should show a somewhat larger YOY % decline, reflecting this May’s lower business day count relative to last May’s.
Local realtor/MLS reports suggest that the median existing single-family home sales price last month was up by just 1.0% from a year earlier. By region SF median sales prices should be virtually flat from a year ago in the West, down by about 1% in the South, up about 4% in the Midwest, and up about 5% in the Northeast.
CR Note: The NAR is scheduled to release May Existing Home sales on Monday, June 23rd at 10:00 AM. Last year, the NAR reported sales in May 2024 at 4.06 million SAAR.
