Single-family home prices increase slightly year over year, while condo prices decline and November sees the highest supply.

ome had experienced a significant increase of 47% from June 2020 through June 2025, primarily during the period from mid-2020 to mid-2022. The median price typically reaches its peak in June and its low point in January or February each year due to fluctuations in the market mix that impact median prices.

Conversely, the national median price for condos and co-ops dropped by 1.5% in November from October, with a year-over-year decrease of 1.5% to $358,600. This category saw a considerable 43% increase in prices from mid-2020 to mid-2025, with the largest gains occurring from mid-2020 to mid-2022.

While national median prices provide an overview, individual markets may exhibit different price dynamics. For instance, home prices in markets like the Austin-Round Rock-San Marcos metro plummeted by 24%, reflecting a significant decline. In contrast, the Milwaukee-Waukesha metro saw the highest year-over-year gain of 4.1% among large and expensive housing markets.

The impact of demand destruction varies by region, as evidenced by sales trends in the four Census Regions of the US. In the West, the annual rate of sales remained steady at 760,000 homes in November, down by 1.3% year-over-year and notably lower compared to previous years. Similarly, the South experienced a slight increase in the annual rate of sales to 1.89 million homes in November, with a marginal decline from the previous year. In the Midwest, the annual rate of sales decreased to 970,000 homes in November, reflecting a 3.0% year-over-year drop. Finally, the Northeast saw a rise in the annual rate of sales to 510,000 homes in November but remained unchanged year-over-year.

Overall, the housing market continues to show signs of strain, with stagnant sales, fluctuations in prices, and varied supply levels across different housing categories and regions. The market’s performance underscores the ongoing challenges and shifts in the broader economic landscape, impacting both buyers and sellers alike.