Existing-home sales pulled back greatly in January, quickly rushing any hopes that December’s year-end rebound brought, as harsh winter season weather condition and still-tight supply conditions weighed on activity.
Sales fell 8.4% to a seasonally adjusted annual rate of 3.91 million, the most affordable levels since November 2024. According to the National Association of Realtors (NAR), deals were likewise 4.4% lower than the very same time in 2015, with every region posting both month-over-month and year-over-year declines.
“The decline in sales is frustrating,” stated NAR Chief Economist Lawrence Yun. Maybe an understatement, specifically after the strong proving last month. He added that cost is nevertheless improving, with wage gains outmatching price growth and mortgage rates running lower than a year ago, though supply stays restricted.
Inventory dipped somewhat from December but stayed above year-ago levels. Total real estate inventory signed up at 1.22 million systems, down 0.8% from the prior month and up 3.4% from January 2025. The months’ supply of unsold homes increased to 3.7 months, up from 3.5 months in December.
Cost pressures continued. The typical existing-home cost for all real estate types rose to $396,800, up 0.9% from a year previously and marking the 31st successive month of yearly gains. Yun noted that house owners continue to build considerable equity, approximating that the common owner has accumulated more than $130,000 in real estate wealth because early 2020.
Regional Breakdown (Sales and Rates, January 2026)
| Area | Sales (annual rate) | Mommy Change | Mean Price | YoY Change |
|---|---|---|---|---|
| Northeast | 480k | -5.9% | $505,400 | +5.8% |
| Midwest | 920k | -7.1% | $295,400 | +2.3% |
| South | 1.81 m | -9.0% | $351,200 | +0.1% |
| West | 700k | -10.3% | $600,400 | -1.4% |
National Market Stats
- Total Real Estate Inventory: 1.22 million units (down 0.8% from December; up 3.4% YoY)
- Unsold Inventory Supply: 3.7 months (up from 3.5 last month and one year ago)
- Average Existing-Home Cost: $396,800 (up 0.9% YoY; 31st consecutive annual boost)
- Single-Family Mean Price: $400,300 (up 0.6% YoY)
- Condo/Co-op Average Cost: $364,600 (up 3.8% YoY)
- Single-Family Sales: 3.53 million (down 9.0% MoM; down 4.3% YoY)
- Condo/Co-op Sales: 380k (down 2.6% MOMMY; down 5.0% YoY)