Meanwhile, purchase applications showed their strongest increase in almost two months, rising 7% year over year.

The National Association of REALTORS’® Pending Home Sales Index rose 2% month over month in February, topping an expected 0.9% gain. 

Young homeowners are the most likely to regret their home purchases: 94% of Gen Z and 86% of Millennial sellers acknowledged buying mistakes, compared to 48% of baby boomers.

Traditional charm, modern simplicity and an intentional combination of the two are on-trend for 2025 based on the big winners of the just-released 2024 Best in American Living Awards.

Nationally, home sales were down 2.6% year over year and up 8.4% month over month, RE/MAX said. 

The median existing-home price was also on the upswing last month, providing homeowners a bit of refuge as the stock market undergoes a correction, Chief Economist Lawrence Yun said in the monthly report. 

The pace of new-home construction was higher than economists expected, even as homebuilders expressed concern about the impact of tariffs and supply-side challenges. 

Falling consumer sentiment suggests potential homebuyers are wary of the short-term economic outlook and future inflation, CoreLogic Chief Economist Selma Hepp said. 

Furthermore, 13% of homeowners said they’d take their home off the market if they learned their ex was considering buying it.

At the same time, the median sales price for a new home hit its highest level since 2022, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.   

In Denver, home prices rose 1.51% year over year and 0.08% month over month in December. 

At the same time, builder sales expectations for the next six months posted their second-largest drop since the sentiment index started in 1985. 

On a city basis, Chicago posted the highest annual increase among the country’s 20 largest metros, followed by Miami, Las Vegas and Washington, D.C. 

The median existing-home price for all housing types in December rose 6% from its year-ago level.    

Nationally, home sales were up 13.3% year over year and 4.4% month over month, RE/MAX said. 

In its last reading before the end of the year, the National Association of REALTORS®  Pending Home Sales Index posted its fourth consecutive monthly increase in November.