Existing-home sales inched up 0.5% in November, marking the third consecutive monthly increase, but inventory growth stalled, and rural home prices surged up to 186% since 2019—outpacing urban areas—as affordability crises deepen, according to the National Association of Realtors (NAR).
By yourNEWS Media Newsroom
WASHINGTON — Existing-home sales rose 0.5% in November, extending a three-month streak of gains, but inventory growth is stalling, and rising prices—especially in rural areas—are squeezing buyers, the National Association of Realtors (NAR) reported on December 19.
Mixed Regional Trends
While month-over-month sales grew in the Northeast and South, they fell in the Midwest and remained flat in the West. Compared to November 2024, sales were stagnant in the Northeast and South but declined in the Midwest and West.
The median home price for all housing types climbed 1.2% year-over-year to $409,200—the 29th consecutive month of price increases. Single-family homes hit a median of $414,300, while condos and co-ops averaged $358,600.
Affordability Challenges
NAR Chief Economist Lawrence Yun attributed the sales uptick to lower mortgage rates but warned that inventory shortages could hurt future affordability. “With distressed property sales at historical lows and housing wealth at an all-time high, homeowners are in no rush to list their properties during the winter months,” Yun said.
Condos, typically 13.5% cheaper than single-family homes, offer a more affordable entry point for first-time buyers. However, rising condo association fees are eroding savings, Yun noted.
Rural Home Prices Skyrocket
A Realtor.com analysis revealed that rural counties experienced home price surges of up to 186% from 2019 to 2025, far outpacing urban growth (30–55%).
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