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Economy — Business

November Home Sales Tick Up, But Higher Prices Still Weigh On Buyers

,   and  TIPP Staff
2 min read
Photo by Marcus Lenk / Unsplash

Sales of previously owned US homes rose slightly in November but remained below last year’s levels as high prices and affordability pressures continued to limit demand, according to the National Association of Realtors.

Existing home sales increased 0.5% from October to an annualized pace of 4.13 million units. That marked a 1% decline from November 2024 and came in just below economist expectations. Sales for the first 11 months of the year are down 0.5% from the same period last year.

Home prices continued to climb. The national median price rose 1.2% from a year earlier to $409,200, the highest ever recorded for November. Prices have now increased year over year for 29 straight months.

Lower mortgage rates this fall provided modest relief, but many buyers remain sidelined by high costs, limited inventory, and economic uncertainty. First-time buyers accounted for just 30% of November purchases, well below historical norms.

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