United States Housing Market Update - October 2025
The national housing market in October reflected growing inventory alongside cautious buyer activity. Despite lower mortgage rates, market momentum remained subdued across most regions.
Market Snapshot
- Inventory rose for the 24th consecutive month
- Buyer activity remained soft nationally
- Homes spent longer on the market
- Prices were flat overall with regional divergence
- Government shutdown weighed on select metros
Pricing and Value
Prices remained largely stable, though regional differences widened.
| Metric | Value |
|---|---|
| National Median List Price | $424,200 (+0.4% YoY) |
| Price per Square Foot | -0.5% YoY |
Market Speed and Competition
Homes continued to take longer to sell compared to last year.
| Metric | Value |
|---|---|
| Median Days on Market | 63 days (+5 YoY) |
Supply Snapshot
Inventory gains continued, though growth has slowed.
| Metric | Value |
|---|---|
| Active Listings | +15.3% YoY |
| Homes for Sale | Over 1 million nationally |
Market Activity
Buyer engagement softened despite improved affordability conditions.
| Metric | Value |
|---|---|
| New Listings | +5.1% YoY |
| Pending Sales | -1.9% YoY |
What This Means for Sellers
- Pricing discipline is increasingly important
- Regional market conditions vary widely
- Longer selling timelines should be expected
What This Means for Buyers
- More inventory options than recent years
- Negotiation opportunities are improving
- Local market conditions matter more than national averages
Deeper Market Data
Inventory recovery has stalled nationally as gains in the Midwest and Northeast offset slowdowns in the South and West.
Ray’s Notes
[Placeholder for commentary]
Realtor.com housing data. National inventory, pricing, time on market, listings, and buyer activity metrics for the United States. Snapshot: October 2025.