Existing-home sales decreased by 8.4% in January, according to the National Association of REALTORS® (NAR) Existing-Home Sales Report. The report provides the real estate ecosystem—including agents, homebuyers and sellers—with data on the level of home sales, price, and inventory.
Month-over-month and year-over-year sales fell in all regions.
“The decrease in sales is disappointing,” said NAR Chief Economist Dr. Lawrence Yun, adding, “The below-normal temperatures and above-normal precipitation this January make it harder than usual to assess the underlying driver of the decrease and determine if this month’s numbers are an aberration.
“Affordability conditions are improving, with NAR’s Housing Affordability Index showing that housing is the most affordable it’s been since March 2022. This is due to wage gains outpacing home price growth and mortgage rates being lower than a year ago. However, supply has not kept pace and remains quite low.”
Affordability improved for the seventh consecutive month, according to NAR’s Housing Affordability Index, increasing to 116.5 in January from 111.6 in December and 102 a year ago.
“Due to low supply, the median home price reached a new high for the month of January—homeowners are in a financially comfortable position as a result,” Yunn explained. “Since January 2020, a typical homeowner would have accumulated $130,500 in housing wealth.”
National Snapshot
Total existing-home sales for January
- 8.4% decrease in existing-home sales month over month to a seasonally adjusted annual rate of 3.91 million.
- 4.4% decrease in sales year over year.
Inventory in January
- 1.22 million units (total housing inventory), down 0.8% from December and up 3.4% from January 2025 (1.18 million).
- 3.7-month supply of unsold inventory, up from 3.5 months in December and one year ago.
Median sales price in January
- $396,800 (median existing-home price for all housing types), up 0.9% from one year ago ($393,400)—the 31st consecutive month of year-over-year price increases.
Housing affordability in January
The average 30-year fixed-rate mortgage in January was 6.10%, according to Freddie Mac, down from 6.19% in December and 6.96% one year ago.
The Housing Affordability Index rose to 116.5 in January, up from 111.6 in December 2025 (and 102.0 a year ago).
Affordability improved across all regions:
- Northeast: +9%
- Midwest: +12.2%
- South: +15.2%
- West: +17.1%
Single-family and condo/co-op sales in January
Single-family homes
- 9.0% decrease in sales month over month to a seasonally adjusted annual rate of 3.53 million, down 4.3% from January 2025.
- Median home price: $400,300, up 0.6% from last year.
Condominiums and co-ops
- 2.6% decrease in sales month over month to a seasonally adjusted annual rate of 380,000, down 5.0% from last year.
- Median price: $364,600, up 3.8% from January 2025.
Regional Snapshot
Northeast
- 5.9% decrease in sales month over month to an annual rate of 480,000, down 4.0% year over year.
- Median price: $505,400, up 5.8% from January 2025.
Midwest
- 7.1% decrease in sales month over month to an annual rate of 920,000, down 7.1% year over year.
- Median price: $295,400, up 2.3% from January 2025.
South
- 9.0% decrease in sales month over month to an annual rate of 1.81 million, down 1.6% year over year.
- Median price: $351,200, up 0.1% from January 2025.
West
- 10.3% decrease in sales month over month for an annual rate of 700,000, down 7.9% year over year.
- Median price: $600,400, down 1.4% from January 2025.
REALTORS® Confidence Index for January
- Median time on market for properties: 46 days, up from 39 days the previous month and 41 days in January 2025.
- First-time homebuyers: 31% of sales, up from 29% in December and 28% one year ago.
- Individual investors or second-home buyers: 16% of transactions, down from 18% the previous month and 17% one year ago.
- Cash sales: 27% of transactions, down from 28% a month ago and 29% in January 2025.
- Distressed sales (foreclosures and short sales): 2% of sales, unchanged from December and down from 3% in January 2025.
About the National Association of REALTORS®
The National Association of REALTORS® (NAR) is involved in all aspects of residential and commercial real estate. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of NAR and subscribes to its strict code of ethics. For free consumer guides about navigating the homebuying and selling transaction processes, from written buyer agreements to negotiating compensation, visit facts.realtor.
