Saddle Brook – July 29, 2025 - U.S. existing-home sales edged up 0.8% month-over-month to a seasonally adjusted annual rate of 4.03 million units, exceeding economists’ expectations, although sales were down 0.7% year-over-year, according to the National Association of REALTORS® (NAR). On a monthly basis, sales increased in the Midwest, Northeast, and South but decreased in the West.
“Existing home sale indicators reflect the health of the housing market. Recent data shows a slight decline in sales, influenced by higher mortgage rates and limited inventory. Despite this, home prices remain stable due to strong demand. Analysts predict modest growth as interest rates stabilize, potentially encouraging more buyers and sellers to re-enter the market, states Greater Bergen REALTORS® 2025 President-Elect, Jim Arakelian.
“Here in Bergen County, bidding wars are still the norm. It’s anybody’s guess when Jerome Powell, Chairman of the Fed will … lower interest rates, but when he does, expect a rush of new home buyers entering the market creating even more demand on existing homes for sale.”
Highlights From June 2025 Report:
- Single Family Closed Sales increased 1.3 percent to 476.
- Townhouse-Condo Closed Sales increased 1.6 percent to 192.
- Adult Communities Closed Sales decreased 55.6 percent to 4.
- Single Family Median Sales Price was up 10.1 percent to $851,300.
- Townhouse-Condo Median Sales Price was up 13.9 percent to $541,000.
- Adult Communities Median Sales Price was up 28.6 percent to $488,550.
Heading into June, there were 1.54 million units for sale across the country, a 6.2% increase from the previous month and a 20.3% improvement over the same period last year, representing a 4.6-month supply at the current sales pace, according to NAR. Despite the additional supply, home prices have continued to rise nationwide, albeit at a slower pace than during the pandemic, climbing 1.3% year-over-year to $422,800 as of last measure.
Click Here for the full ShowingTime report for the month of June 2025.
Data as of July 20, 2025. All data from New Jersey MLS and Hudson County MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2025 ShowingTime Plus, LLC.