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Existing home sales increased 0.5% over the month in November but fell 1.0% over the year. Housing inventory moved down to 1.43 million units, reflecting a 5.9% drop from October but a 7.5% jump from last year. The median existing home price was $409,200, up 1.2% from last year. The Northeast and South posted monthly increases in existing home sales, while the Midwest registered a decline, and the West stayed the same in November. 

Single-family home sales rose 0.8% from October but fell 0.8% from November 2024, with the median price increasing 1.2% from last year to $414,300. Condo and co-op sales fell 2.6% over the month and over the year to 380,000 units in November. Meanwhile, the median price for condos and co-ops inched up 0.1% from the prior year to $358,600.

Homes were typically on the market for 36 days in November, up from 34 days in October and 32 days in November 2024. First-time buyers made up 30% of sales in November, down from 32% in October but unchanged from November 2024.