Compared to 1 year ago, the U.S. median house sales price in October 2025, at $420,600, rose 2.2%, while the median condo/co-op price, at $363,700, increased .9%. Existing-home sales rose almost 1% from September and about 3% from October 2024. The number of active listings was essentially flat month over month, but 11% higher year over year. Months-supply-of-inventory ticked down for the second month, indicating a gradual improvement in buyer demand as compared to the supply of listings for sale. Approximately 19% of home sales sold above asking price, and median time on market was 34 days, up 5 days from October 2024. Cash purchases accounted for 29% of transactions; 32% went to first-time buyers; and 2% were distressed sales (foreclosure or short sales). Price reductions were well down from the peak in June, but 20% higher year over year, and over the past 3 months, 7% of contracts were cancelled before close of escrow, up from 5% during the same period last year. 

The 30-year mortgage rate hit a 12+ month low in late October and then increased slightly through the 3rd week of November. In its last reading, inflation ticked up slightly to 3%, and the Fed made its second 2025 quarter-point benchmark-rate reduction while cautioning that another decrease in December was not certain. Amid substantial and vehement analyst disagreement regarding a possible AI bubble, the S&P 500 and Nasdaq stock market indices have seen considerable volatility and dropped 5-6% in the 3 weeks since peaking on 10/29/25. The consumer confidence reading in early November fell close to a 45-year low, with ongoing concerns regarding prices, personal finances, inflation and job security, though sentiment among affluent households was running significantly higher due to stock market gains. Cryptocurrency values fell more than 25% in the last 6 weeks. 

The number of new listings coming on market typically hits its nadir in December with a commensurate fall in sales activity.