Housing Supply Overview
Nationally, pending home sales rose 1.9% month-over-month, driven by gains in the Northeast, Midwest, and South, according to the National Association of REALTORS®. Economists polled by Reuters had forecast a 0.5% increase for the month. Year-over-year, pending sales were down 0.4%, with the Midwest and South reporting increases, while the Northeast and West experienced declines. For the 12-month period spanning December 2024 through November 2025, Pending Sales in the Western Upstate Association of REALTORS® region were up 3.9 percent overall. The price range with the largest pending sales gain was the $750,001 to $1,000,000 range, where sales improved 19.3 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 were up 2.9 percent to $319,000. The price range that tended to sell the quickest was the $150,000 and Below range at 58 days. The price range that tended to sell the slowest was the $1,000,001 and Above range at 89 days.
Market-wide, inventory levels went up 49.7 percent. The property type with the largest gain was the Single-Family Homes segment, where the number of properties for sale improved 52.6 percent. That amounts to 4.6 months of inventory for Single-Family Homes and 4.4 months of inventory for Condos.
Monthly Indicators
U.S. sales of existing homes rose 1.2% from the previous month to a seasonally adjusted annual rate of 4.10 million, according to the National Association of REALTORS® (NAR), as buyers took advantage of lower mortgage rates this fall. Sales increased in the Midwest and South, held steady in the Northeast, and edged down in the West. Year-over-year, sales were up 1.7%, with gains in the Northeast, Midwest, and South, while the West posted a decline.
New Listings were up 12.0 percent to 634. Pending Sales decreased 28.5 percent to 348. Inventory grew 49.7 percent to 2,375 units.
Median Sales Price was up 1.7 percent to $304,990. Days on Market decreased 2.7 percent to 71 days. Months Supply of Inventory was up 43.8 percent to 4.6 months.
Nationally, inventory dipped 0.7% month-over-month but rose 10.9% year-over-year, totaling 1.52 million units, according to NAR. At the current sales pace, supply stands at 4.4 months, slightly below last month’s level but higher than the 4.1 months recorded a year ago. Supported by modest inventory levels, prices continue to rise, with the national median existing-home price increasing 2.1% year-over-year to $415,200, marking 28 consecutive months of annual gains.
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