Nov 2025 – Existing‑home sales rise 0.5% month‑over‑month to a seasonally adjusted 4.13 million, yet remain 1% below a year earlier and miss the 4.14 million forecast, indicating lingering weakness after a multi‑decade low in 2024 sales [4].

Nov 2025 – National median sales price climbs to $409,200, a 1.2% YoY gain and the highest November price since 1999, marking the 29th consecutive month of price increases and underscoring affordability pressure [4].

Nov 2025 – Inventory sits at 1.43 million homes, a 4.2‑month supply, down 5.9% from October but up 7.5% YoY, showing a modest tightening of available stock [4].

Nov 2025 – First‑time buyers account for only 30% of transactions, down from a historic 40%, with an average age of 40 and mortgage rates at 6.17%, the lowest in over a year, highlighting a shrinking pool of new entrants [4].

Dec 2025 – Pending‑home‑sales index drops 9.3% in December, the steepest slide since April 2020, and pending sales fall 3% YoY across all four regions, signaling a rapid cooling of buyer activity [2].

Dec 2025 – Sellers outnumber buyers by more than 600,000, a 47% surplus and the widest gap since 2013, with the imbalance most acute in Austin and several Florida metros [2].

Dec 2025 – Total buyer pool shrinks to roughly 1.3 million, a 5.9% decline—the steepest since early 2023 and the lowest level since 2013—further eroding demand [2].

Dec 2025 – Median existing‑home price reaches $405,400, extending a 30‑month streak of YoY price gains and deepening affordability challenges [2].

Dec 2025 – Annual inventory growth slows to 10%, the weakest gain in nearly two years after a 33% surge in mid‑2025, indicating that new supply is no longer offsetting demand loss [2].

Dec 2025 – NAR chief economist Lawrence Yun warns the market is “not out of the woods,” Realtor.com analyst Hannah Jones calls the dip an early signal of shifting buyer sentiment, and Moody’s Mark Zandi notes sales remain near crisis‑level lows and inventories approach record highs [2].

Jan 2026 – Redfin data show a record seller surplus of 529,770 homes, the largest since 2013, representing a 47.1% excess of sellers over buyers and creating temporary buyer leverage despite overall affordability strain [3].

Jan 2026 – Median home listing price sits near $428,000, keeping many prospective buyers priced out and reinforcing the supply‑demand mismatch [3].

Jan 2026 – Analyst Michael Ryan characterizes the gap as a “demand collapse, not a supply boom,” noting that homeowners locked into low‑rate mortgages are reluctant to move, which dampens market activity [3].

Jan 2026 – Adjustable‑rate mortgage resets, rising taxes, higher insurance costs, and investor selling generate a supply shock that pushes more owners onto the market while reducing qualified buyers, according to analysts [3].

Jan 2026 – Policy proposals may temporarily lift prices but will not resolve underlying affordability, warns Kevin Thompson, who cautions that such steps could merely shift demand forward [3].

Feb 2026 – Pending home sales plunge nearly 6% YoY in the four weeks ending Feb 15, the steepest decline in a year, confirming continued buyer hesitation during the winter season [1].

Feb 2026 – Average contract time extends to 67 days, the longest interval since early 2019, reflecting slower market speed and reduced bargaining power for sellers [1].

Feb 2026 – Median home‑sale price rises 1.1% YoY, the biggest increase in two months, showing price resilience despite weaker demand [1].

Feb 2026 – Weekly average mortgage rate hovers at 6.09%, near a three‑year low, and the median monthly payment falls 2.9% to $2,601, yet remains close to its all‑time high, keeping financing costs a central concern [1].

Feb 2026 – New listings drop 3.1% YoY and total homes for sale fall 1.5%, marking the second consecutive inventory decline after two years of growth, tightening supply further [1].

Feb 2026 – Redfin Premier agent Aaron Glicken describes the market as “the strongest buyer’s market I’ve seen,” noting buyers can be picky, request concessions, and often purchase below asking price, and he expects activity to rise in spring if rates fall [1].