Navigating the Evolving Landscape of Residential Property Sales
November\u2019s Remarkable Surge in Residential Property Transactions
November witnessed a notable escalation in the sale of pre-owned homes, achieving a nine-month high with an increase of half a percentage point. Data from the National Association of Realtors (NAR) indicates that the annual rate for existing home sales, after seasonal adjustments, reached 4.13 million units. This marks the third consecutive month of growth in the sector, even as sales remain slightly below the figures from the previous year, specifically a 1.0% decline.
Economic Factors Influencing Housing Market Momentum
A significant driver behind this positive shift is the recent decline in mortgage interest rates. According to Freddie Mac, the average fixed interest rate for a 30-year mortgage decreased to 6.24% in November 2025, representing its lowest point in more than a year. Concurrently, the median price for existing homes saw a reduction, settling at $409,200. This price adjustment, coupled with more favorable lending conditions, has played a crucial role in enhancing the market's activity and attracting more buyers.