US Housing Market Rebounds with Affordability Gains and Inventory Growth in Late 2025
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US Housing Market Rebounds with Affordability Gains and Inventory Growth in Late 2025
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In the latest data from November 2025, pending home sales surged 3.3 percent month-over-month and 2.6 percent year-over-year, hitting the highest level since February 2023, according to the National Association of Realtors[1][4][9]. NAR Chief Economist Lawrence Yun attributes this to building homebuyer momentum from lower mortgage rates, wage growth outpacing home prices, and more inventory options than last year[1][4].
This marks a shift from 2025s overall trends, where median sale prices rose just 1.7 percent or about 7400 dollars year-over-year, while monthly home sales averaged a historically low 424078 units, flat from 2024[2]. New listings climbed 6.8 percent to 565578 per month, boosting supply, though new construction stalled at 1.38 million starts monthly, unchanged from last year and fueling a 2 to 6 million unit shortage[2][12].
No major deals, partnerships, product launches, regulatory changes, or disruptions emerged in the past 48 hours. Consumer behavior shows cautious optimism, with affordability improving slightly but homeownership dipping to 65 percent in late 2025, the lowest since 2019[5]. Price growth cooled to 1.29 percent nationally amid more realistic pricing and cuts in some markets[3].
Compared to prior months, November's pending sales beat October's revised 2.4 percent gain and economist forecasts of 1 percent, signaling stronger end-of-year activity versus mid-2025s slower pace[4]. Leaders like NAR highlight affordability gains drawing buyers back, while inventory grew 30 percent year-over-year by May before stabilizing at 3.19 million listings in November[3].
Challenges persist with high down payments and rural affordability crises accelerating, but metros like San Antonio offer relief with median down payments under 5100 dollars[5]. Overall, the market shows tentative recovery amid persistent supply constraints.
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