Last week, in the CalculatedRisk Real Estate Newsletter on March existing home sales, NAR: Existing-Home Sales Increased to 4.26 million SAAR in February; Down 1.2% YoY, I noted:
On a month-over-month basis, median prices increased 1.3% from January and are now down 6.7% from the June 2024 peak. This is about the normal seasonal increase in the median price. Typically, the NAR median price increases in the Spring, and tends to peak seasonally in the June report.Seasonally, median prices typically peak in June (closed sales are mostly for contracts signed in April and May).
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|
| Jan to Feb | 0.0% | 0.3% | 1.5% | 2.3% | 2.7% | 0.8% | 1.4% | 1.3% |
| Jan to Jun | 13.7% | 14.4% | 10.6% | 20.8% | 16.8% | 13.7% | 12.8% | NA |
| Jun to Jan | -8.9% | -6.7% | 3.1% | -3.4% | -12.8% | -7.7% | -7.8% | NA |
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