RE/MAX NATIONAL HOUSING REPORT FOR MARCH 2025

Core Insights - March home sales experienced a significant increase of 23.0% compared to February, marking the largest month-over-month increase since March 2023, although sales were down 1.4% compared to March 2024 [1][8] - Active inventory rose by 35.5% year-over-year across 50 metro areas surveyed, indicating a growing supply of homes available for sale [2][18] - The median sales price in March reached $435,000, which is an increase of $8,000 (1.8%) from February and $15,000 (3.5%) from March 2024 [4][12] Sales and Inventory - The number of homes for sale increased by 8.0% from February and was 35.5% higher than in March 2024, driven by a 29.8% rise in new listings compared to February [3][18] - Washington D.C. saw the largest month-over-month increase in active listings, up 25.3% from February [5] New Listings - Newly listed homes in March 2025 were up 7.9% compared to March 2024 and up 29.8% compared to February 2025 [6] - The markets with the largest year-over-year increases in new listings included Las Vegas, NV (+28.0%), Nashville, TN (+26.5%), and Manchester, NH (+26.3%) [7] Closed Transactions - Overall home sales were down 1.4% compared to March 2024 but up 23.0% from February 2025 [8] - The markets with the largest year-over-year decreases in sales included Bozeman, MT (-11.9%), New Orleans, LA (-11.7%), and Atlanta, GA (-9.5%) [11] Pricing Metrics - Buyers paid an average of 99% of the asking price in March, consistent with previous months [9][14] - The average days on market for homes sold was 44 days, down from 51 days in February but up from 39 days in March 2024 [9][16] Months' Supply of Inventory - The months' supply of inventory was 2.3, up from 1.7 in March 2024 but down from 2.7 in February 2025 [18] - Markets with the lowest months' supply of inventory included Manchester, NH (0.7), Milwaukee, WI (0.9), and Seattle, WA (0.9) [19]