"Existing home sales have been trending higher since June, when the monthly sales print bottomed at 3,930,000 for 2025. The question is: can this continue? Back in mid-June, the housing market started to shift, and then mortgage rates fell below the key 6.64% level and headed toward 6%. This has given us 200,000 more sales growth since June, and the key variables that led that growth are still in play today."
"From NAR: 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. My central theme for existing home sales has always been that the bar is so low that we can trip over it. Meaning it doesn't take much to grow sales here, but it typically happens when mortgage rates head lower, and especially when mortgage rates head toward 6%."
Existing-home sales have risen for three months, reaching a nine-month high as mortgage rates fell and inventory increased. Sales trended higher since June after a 3,930,000 monthly bottom, producing roughly 200,000 additional transactions as rates declined below 6.64% toward 6%. Purchase application data posted the market's best 20-week stretch of the year, reflecting activity that looks out 30–90 days. NAR reported November inventory at 1.43 million units with a 4.2-month supply, down from October but up year-over-year, while inventory growth shows early signs of stalling despite the sales recovery from a low base.
Read at www.housingwire.com
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