<div id="readability-page-1"><div id="blog-content">(Click on image to enlarge)<img height="437" src="https://imageproxy.pbkrs.com/https://i0.wp.com/mishtalk.com/wp-content/uploads/2025/12/Existing-Home-Sales-2025-11-1.png/query-cXVhbGl0eT04MCZyZXNpemU9MTAyNCw2Mzkmc3NsPTE?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="700" original-src="https://imageproxy.pbkrs.com/https://i0.wp.com/mishtalk.com/wp-content/uploads/2025/12/Existing-Home-Sales-2025-11-1.png/query-cXVhbGl0eT04MCZyZXNpemU9MTAyNCw2Mzkmc3NsPTE"/> The National Association of Realtors reports Existing-Home Sales Rise 0.5 Percent in November.<blockquote>Month-over-month sales increased in the Northeast and South, showed no change in the West, and fell in the Midwest. Year-over-year sales showed no change in the Northeast and South, and decreased in the Midwest and West.</blockquote> Key Numbers<ul><li>Month-Over-Month: +0.5 percent to a seasonally adjusted annual rate of 4.13 million.</li><li>Year-Over-Year: -1.0 Percent</li><li>Inventory: 1.43 million units, down 5.9% from October and up 7.5% from November 2024 (1.33 million)</li><li>Supply: 4.2-month supply of unsold inventory, down from 4.4 months in October and up from 3.8 months in November 2024.</li><li>Median Sales Price: $409,200, up 1.2% from one year ago ($404,400) – the 29th consecutive month of year-over-year price increases.</li></ul>“Existing-home sales increased for the third straight month due to lower mortgage rates this autumn,” said NAR Chief Economist Lawrence Yun. “However, inventory growth is beginning to stall. With distressed property sales at historic lows and housing wealth at an all-time high, homeowners are in no rush to list their properties during the winter months.”Well, that didn’t happen. NAR seasonal adjustments are garbage. For four consecutive years the NAR shows seasonal increases between October and February. So, expect another couple of months of increases then declines. Existing-Home Sales Supply(Click on image to enlarge)<img height="428" src="https://imageproxy.pbkrs.com/https://i0.wp.com/mishtalk.com/wp-content/uploads/2025/12/Existing-Home-Sales-Supply-2025-11.png/query-cXVhbGl0eT04MCZyZXNpemU9MTAyNCw2MjYmc3NsPTE?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="700" original-src="https://imageproxy.pbkrs.com/https://i0.wp.com/mishtalk.com/wp-content/uploads/2025/12/Existing-Home-Sales-Supply-2025-11.png/query-cXVhbGl0eT04MCZyZXNpemU9MTAyNCw2MjYmc3NsPTE"/>Despite all the moaning, supply of homes on a year-over-year basis is steadily rising, in both percentage terms and real terms give the flatline in sales. Existing-home sales Median Sales Price(Click on image to enlarge)<img height="442" src="https://imageproxy.pbkrs.com/https://i0.wp.com/mishtalk.com/wp-content/uploads/2025/12/Existing-home-sales-Median-Sales-Price-2025-11.png/query-cXVhbGl0eT04MCZyZXNpemU9MTAyNCw2NDcmc3NsPTE?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="700" original-src="https://imageproxy.pbkrs.com/https://i0.wp.com/mishtalk.com/wp-content/uploads/2025/12/Existing-home-sales-Median-Sales-Price-2025-11.png/query-cXVhbGl0eT04MCZyZXNpemU9MTAyNCw2NDcmc3NsPTE"/> The trend in the median price of existing-homes is interesting in 2025.In prior years, prices of all transactions peaked in June then slide towards December.This year, there is a huge divergence between single-family and the overall median. The median price of single-family units has flatlined for 5 months.Despite mortgage rates declining a full percentage point from 7.26 percent in mid-January to 6.29 percent in mid-December, existing home sales have gone virtually nowhere.Home are still not affordable. Neither rising inventory nor falling mortgage rates have helped. Related PostsDecember 16, 2025: The Unemployment Rate for Youths and Blacks Surges in November<blockquote>The unemployment rate for those 16-19 rockets to 16.3 percent, Blacks to 8.3 percent.</blockquote>December 18, 2025: The CPI for November Is Little But Missing Numbers and Magic<blockquote>There are no month-over-month numbers for food, shelter, or medical care.</blockquote>December 17, 2025: Trump Addresses the Nation, Blames Biden, Incessantly Praises Himself<blockquote>Here’s a replay of Trump’s address to the nation.</blockquote>In the allegedly best economy in history, people struggle with food, shelter, property taxes, and homeowner’s insurance.Home sales are stagnant because no one can afford them. Youth and black unemployment has surged.Health care costs are guaranteed to surge next year.Yet, Trump goes on TV and tells everyone how great he is doing. Expect a further decline in his polling numbers.<hr/>More By This Author:The CPI For November Is Little But Missing Numbers And Magic Understanding the Enormous BLS Job Report Errors, What Really Happened? The Unemployment Rate For Youths And Blacks Surges In November </div></div>

AOMR

Existing-home sales rose 0.5% in November, with regional variations. Year-over-year sales fell 1.0%. Inventory is up 7.5% from last year, with a 4.2-month supply. Median sales price increased 1.2% to $409,200. Despite lower mortgage rates, sales remain stagnant due to affordability issues. NAR's seasonal adjustments are criticized. Related economic concerns include rising youth and black unemployment, and health care costs. Trump's address highlights economic struggles despite his claims of success.

Existing-Home Sales Flounder At The Same Level For Three Years