Continued high mortgage rates and a slowdown in new home construction is causing some analysts to predict that 2025 could mark the slowest year for existing-home sales since 1995. This would represent a decline of 1.5 % to approximately 4 million transactions.
More and more home sellers are taking their listings off the market rather than negotiate, which is certainly contributing to the slow sales rate. Meanwhile, home prices continue to rise (about 2.5%), albeit less than the expected 3.7% at the beginning of the year.