REMAX NATIONAL HOUSING REPORT FOR MAY 2025
- Home sales increased 8.6% month-over-month for the fourth consecutive month
- Inventory grew 34.8% year-over-year, providing more options for buyers
- New listings increased 7.9% year-over-year for the 15th straight month
- Median Sales Price continued its growth trend for the 23rd straight month, reaching $442,000
- Days on Market improved from 41 to 39 days month-over-month
- Home sales remained 3.5% below May 2024 levels
- Buyers' leverage increased with homes selling at 99% of asking price, down from 100% in May 2024
- Days on Market increased by 5 days compared to May 2024
- Some major markets showed significant sales declines (Miami -16.5%, Honolulu -14.2%, Tampa -11.8%)
Home sales rise again in May but still trail 2024 levels.
Across the 52 metro areas surveyed in the report, the number of homes for sale rose
New listings also increased
"Rising sales, growing inventory, declines in days on market and steady prices are all encouraging signs for the housing industry," said Erik Carlson, CEO of RE/MAX Holdings, Inc. "It's great to see the spring market end on a solid note, and we're optimistic that this momentum could carry into an active summer season."
In
Other metrics of note:
- On average, buyers paid
99% of the asking price in May � the same as in April 2025 but slightly below the100% seen in May 2024. - Days on Market in May dropped to 39 days � two days lower than the 41 in April, but five days higher than the 34 in May 2024.
- Months' Supply of Inventory was 2.5 months, up slightly from the 2.4 in April and over half-a-month more than the 1.9 of last May.
Highlights and local market results for May include:
New Listings
In the 52 metro areas surveyed in May 2025, the number of newly listed homes was up
New Listings: | |||
Market | May 2025 | May 2024 | Year-over-Year |
14,531 | 11,592 | +25.4% | |
1,690 | 1,351 | +25.1% | |
1,153 | 932 | +23.7% | |
5,179 | 4,233 | +22.3% | |
7,100 | 5,905 | +20.2% |
Closed Transactions
Of the 52 metro areas surveyed in May 2025, the overall number of home sales was down
Closed Transactions: | |||
Market | May 2025 | May 2024 | Year-over-Year |
6,160 | 7,376 | -16.5% | |
635 | 740 | -14.2% | |
5,231 | 5,930 | -11.8% | |
6,122 | 6,750 | -9.3% | |
2,774 | 3,057 | -9.3% |
Median Sales Price � Median of 52 metro area prices
In May 2025, the median of all 52 metro area sales prices was
Median Sales Price: | |||
Market | May 2025 | May 2024 | Year-over-Year |
+9.9% | |||
+8.5% | |||
+8.3% | |||
+8.1% | |||
+7.8% |
Close-to-List Price Ratio � Average of 52 metro area prices
In May 2025, the average close-to-list price ratio of all 52 metro areas in the report was
Close-to-List Price Ratio: | |||
Market | May 2025 | May 2024 | Year-over-Year |
104.9% | 105.0% | -0.2 pp | |
103.7% | 105.6% | -1.8 pp | |
102.3% | 103.1% | -0.9 pp | |
101.8% | 101.8% | 0.0 pp | |
101.6% | 102.4% | -0.8 pp | |
*Difference displayed as change in percentage points |
Days on Market � Average of 52 metro areas
The average days on market for homes sold in May 2025 was 39, up five days compared to the average in May 2024 and down two days compared to April 2025. The metro areas with the highest days on market averages were
Days on Market: | |||
Market | May 2025 | May 2024 | Year-over-Year |
76 | 60 | +25.9% | |
76 | 71 | +6.2% | |
74 | 62 | +19.5% | |
69 | 52 | +32.6% | |
67 | 53 | +25.8% |
Months' Supply of Inventory � Average of 52 metro areas
The number of homes for sale in May 2025 was up
Months' Supply of Inventory: | |||
Market | May 2025 | May 2024 | Year-over-Year |
7.0 | 4.5 | +56.4% | |
5.5 | 1.9 | +194.5% | |
5.4 | 4.1 | +32.4% | |
4.2 | 2.9 | +41.9% | |
4.2 | 4.1 | +2.4% |
About the REMAX Network
As one of the leading global real estate franchisors, RE/MAX, LLC is a subsidiary of RE/MAX Holdings (NYSE: RMAX) with more than 145,000 agents in nearly 9,000 offices and a presence in more than 110 countries and territories. Nobody in the world sells more real estate than REMAX, as measured by residential transaction sides. REMAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. REMAX agents have lived, worked and served in their local communities for decades, raising millions of dollars every year for Children's Miracle Network Hospitals® and other charities. To learn more about REMAX, to search home listings or find an agent in your community, please visit . For the latest news about REMAX, please visit .
Report Details
The REMAX National Housing Report is distributed monthly on or about the 15th. The Report is based on MLS data for the stated month in 52 metropolitan areas, includes single-family residential property types, and is not annualized. For maximum representation, most of the largest metro areas in the country are represented, and an attempt is made to include at least one metro area in almost every state. Metro areas are defined by the Core Based Statistical Areas (CBSAs) established by the
Definitions
Closed Transactions are the total number of closed residential transactions during the given month. Months' Supply of Inventory is the total number of residential properties listed for sale at the end of the month (current inventory) divided by the number of sales contracts signed (pending listings) during the month. Where "pending" data is unavailable, an inferred pending status is calculated using closed transactions. Days on Market is the average number of days that pass from the time a property is listed until the property goes under contract. Median Sales Price for a metro area is the median sales price for closed transactions in that metro area. The nationwide Median Sales Price is calculated at the nationwide aggregate level using all sale prices from the included metro areas. The Close-to-List Price Ratio is the average value of the sales price divided by the list price for each closed transaction.
MLS data is provided by Seventy3, LLC, a RE/MAX Holdings company. While MLS data is believed to be reliable, it cannot be guaranteed. MLS data is constantly being updated, making any analysis a snapshot at a particular time. Every month, the previous period's data is updated to ensure accuracy over time. Raw data remains the intellectual property of each local MLS organization.
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SOURCE RE/MAX, LLC