House Supply Overview
U.S. pending home sales climbed to their highest level in nearly three years, rising 3.3% month-over-month, according to the National Association of REALTORS®. Economists polled by Reuters had forecast a 1.0% increase in contract signings. On a year-over-year basis, pending home sales advanced 2.6%, with both monthly and annual gains recorded across all four regions. For the 12-month period spanning January 2025 through December 2025, Pending Sales in the Western Upstate Association of REALTORS® region increased 5.3 percent overall. The price range with the largest pending sales gain was the $750,001 to $1,000,000 range, where sales were up 18.4 percent.
The overall Median Sales Price improved 2.0 percent to $310,000. The property type with the largest gain was the Single-Family Homes segment, where prices increased 2.6 percent to $317,950. The price range that tended to sell the quickest was the $150,000 and Below range at 59 days. The price range that tended to sell the slowest was the $750,001 to $1,000,000 range at 88 days.
Market-wide, inventory levels was up 43.8 percent. The property type with the largest gain was the Single-Family Homes segment, where the number of properties for sale improved 45.0 percent. That amounts to 4.0 months of inventory for Single-Family Homes and 4.5 months of inventory for Condos.
Monthly Indicators
U.S. existing home sales ticked up 0.5% from the previous month to a seasonally adjusted annual rate of 4.13 million, marking the third consecutive monthly increase, according to the National Association of REALTORS® (NAR). However, sales were down 1.0% from the same period last year. Regionally, sales rose month-over-month in the Northeast and South, were unchanged in the West, and declined in the Midwest. On a year-over-year basis, sales were flat in the Northeast and South and fell in both the Midwest and West.
New Listings were up 0.6 percent to 483. Pending Sales decreased 20.7 percent to 268. Inventory grew 43.8 percent to 2,161 units.
Median Sales Price was down 0.6 percent to $298,195. Days on Market increased 15.9 percent to 80 days. Months Supply of Inventory was up 36.7 percent to 4.1 months.
The national median existing-home price continued to climb, rising 1.2% from a year ago to $409,200, according to NAR. This year-over-year increase—the 29th consecutive monthly gain—reflects ongoing tightness in housing supply. At the end of November, there were 1.43 million units for sale, down 5.9% from the previous month but up 7.5% from the same time last year, representing a 4.2-month supply at the current sales pace.
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