RE/MAX Holdings Inc. reported its November 2025 National Housing Report, noting continued inventory growth and a seasonal slowdown in new listings and home sales. Inventory levels were 14.5% higher than a year ago, marking the 23rd consecutive month of year-over-year increases. New listings in the 51 surveyed metro areas dropped 30.7% from October and were down 8.3% compared to November 2024. Home sales declined 18.5% from October and 4.7% year-over-year. The median sales price in November was $438,000, representing a 1.7% increase from the previous year but a 1.5% decrease from October. The average days on market rose to 54, up from 47 in November 2024 and 50 in October. Months’ supply of inventory increased to 3.3, compared to 2.9 a year ago and 3.0 in October. Sellers received 98% of the asking price, slightly down from 99% last year. Seattle experienced its largest monthly price drop of the year, with median prices falling 5.4% from October to November.