Home Sales in June 2025: State-Level Shifts Amid a Rebalancing Market
In June 2025, the U.S. housing market showed signs of quiet recalibration. Total home sales slipped slightly to 445,000 units—down just 1,000 from May. But beneath that national flatline, regional and state-level shifts reveal a more dynamic story.
New home sales nudged downward, while existing home sales essentially held their ground. Inventory rose. Buyer activity showed signs of life in select states. And price pressure, while persistent, is starting to meet resistance.
This month’s data tells a tale of fragmentation: different geographies, different outcomes. If you’re marketing home warranties or managing lead gen across multiple states, knowing where the movement is—and what’s driving it—can help you target smarter, staff more accurately, and spend with confidence.
Key Takeaways
- Total U.S. home sales dipped slightly from 446,000 in May to 445,000 in June, driven by a small drop in new home sales.
- New home sales fell 3.6% month-over-month and were down 6.6% year-over-year.
- Existing home sales were essentially flat, up just 1,000 from May but holding even with June 2024.
- The South led all regions in both new and existing home sales, confirming ongoing migration and affordability trends.
- Texas, Florida, and California posted the highest known volumes of existing home sales among reporting states.
- Inventory continues to rise, offering more buyer choice—but also forcing more sellers to confront pricing reality.
- Affordability remains a drag, with 30-year mortgage rates hovering near 7%, keeping many buyers on the sidelines.
New Home Sales: Slight Dip, Continued Inventory Build
Nationally, new home sales declined from 56,000 units in May to 54,000 in June, a 3.6% monthly drop. Compared to last year’s 58,000 units, the market is still trailing.
But monthly figures only tell part of the story. On a seasonally adjusted annual basis, June’s 627,000 new home sales were up 0.6% from May—but still 6.6% below June 2024 levels.
That shortfall is mirrored in inventory. At the end of June, 511,000 new homes were on the market—up from 505,000 the month before, and up 8.5% year-over-year. Supply now sits at 9.8 months nationally, a full 1.4 months higher than June 2024.
Translation: Builders are offering more—but buyers are still balking.
Price Trends: Declining
- Median new home price: $401,800 (down 4.9% from May)
- Average new home price: $501,000 (down 2.0% from May)
Despite that drop, prices remain well above pre-pandemic norms, and affordability remains a gating factor for many would-be buyers.
Regional Breakdown (New Homes, SAAR)
| Region | June 2025 Sales |
|---|---|
| South | 390,000 |
| West | 131,000 |
| Midwest | 85,000 |
| Northeast | 21,000 |
The South continues to dominate new construction activity—accounting for over 60% of all new home sales nationwide.
But a note of caution: federal data stops at the regional level. There is no authoritative, federal source for new home sales by state. That makes precise targeting trickier—but not impossible. Builders and marketers should watch regional momentum, especially in fast-growing metros like Dallas-Fort Worth, Nashville, and Tampa, where new construction has outpaced national norms.
Existing Home Sales: Flat Volume, High Prices, Shifting Geography
Nationally, existing home sales ticked up slightly from 390,000 in May to 391,000 in June—essentially flat. On a seasonally adjusted annual rate, that translates to 3.93 million units, 2.7% below May, but even with June 2024.
Inventory continues to climb—1.53 million unsold homes were on the market at the end of June, up nearly 16% from a year earlier. That’s a 4.7-month supply, closing in on the 5–6 month range considered balanced.
But here’s the twist: Despite more supply and fewer transactions, prices are still rising.
- Median existing home price (June 2025): $435,300 (new all-time high)
- Price growth: +2.0% YoY
- Price reductions: Over 20% of listings saw cuts—the highest June share since at least 2016
This disconnect—more homes, fewer buyers, still-high prices—is largely due to seller psychology. Many homeowners remain anchored to 2022 price highs and are reluctant to adjust unless forced by timing or circumstance. It’s not a crash, but it is a slow-motion recalibration.
State-Level Highlights: Where Are Homes Actually Selling?
While federal sources give us national and regional trends, real visibility comes from state data. Unfortunately, not every state reports uniformly, and methodologies vary. That said, the following states had the highest reported existing home sales volumes in June 2025:
Top Reported States (Existing Home Sales, June 2025)
| State | Homes Sold (Actual) | Source |
|---|---|---|
| Florida | 31,636 | Florida Realtors |
| Texas | 30,386 | Redfin |
| California | 24,453 | Redfin |
| Georgia | 12,320 | GA REALTORS |
| Ohio | 12,276 | OH REALTORS |
| Pennsylvania | >11,850 | PA REALTORS |
| New York | 8,879 | NY REALTORS |
Together, Florida, Texas, and California alone accounted for over 85,000 transactions—nearly 20% of total U.S. existing home sales in June.
Notable State Trends
- Florida: Still a powerhouse, even as condo/townhome sales dip (-6.4% YoY). Detached single-family demand remains robust.
- Texas: Red-hot summer demand, up 4.4% YoY. Austin and Tarrant County reported especially strong volumes.
- California: Mixed signals. SAAR shows stability, but actual sales barely budged year-over-year. Inventory is up, price cuts are increasing.
Despite price fatigue, these markets continue to churn. For direct-to-consumer warranty marketers, these states represent the deepest pools of transactions—and thus the greatest opportunities to convert new buyers.
Inventory and Listings: Turning Point or Stalemate?
Nationwide, active listings are up 28.9% year-over-year. This is the 20th straight month of growth, with 1.08 million homes now on the market.
But this isn’t just a surge in seller confidence. Many are testing the waters, not slashing prices. “Delistings”—when a seller pulls a home off the market instead of reducing the asking price—were up sharply in May and June. That friction is real.
More homes are being listed, yes. But a sizable portion are being withdrawn when they don’t get the price sellers expect.
This has implications for marketing velocity and lead conversion. If a buyer is ready to transact but the home disappears, your campaign ROI shrinks. If you’re sending mailers to recent movers or targeting live listings, timing matters more than ever.
Regional Divergence: One Market, Many Realities
The national average is misleading. Depending on where you look, the market’s trajectory varies sharply.
- West: Inventory up 38.3% YoY, but sales down. Homes are taking longer to sell—8 days slower than last year. Buyers have more leverage, but sellers are slow to move.
- Midwest: Quiet resilience. Existing home sales up 2.2% YoY, despite affordability headwinds.
- South: Remains the epicenter of U.S. housing activity. New and existing home sales both high, with moderate price appreciation.
- Northeast: Sluggish. Sales volumes fell 8% MoM and 4.2% YoY, with flat inventory.
This fragmentation matters. For national marketers and operators, a one-size-fits-all strategy will underperform. Focus your campaigns and staffing on metros that are gaining momentum. And beware of stale demand signals—some markets are moving fast, others are in a holding pattern.
Final Thoughts
The June 2025 housing data paints a market in slow but steady transition. Inventory is up. Prices are sticky. Buyers are choosier. Sellers are starting to adjust—but not all at once.
If you’re in the business of selling home warranties, mortgage protection, or anything that rides alongside home sales, your strategy needs to be more geographic than ever. National trends matter—but the state and metro-level signals are where the real leverage lives.
Target where the sales are happening. Time your outreach to follow demand. And most importantly, monitor inventory trends: they’re the leading indicator of what’s next.
This isn’t 2021 anymore. But it’s not a collapse either. It’s a rebalancing—and for sharp marketers, that’s an opening.
Sources:
- U.S. Census Bureau, New Residential Sales Report, June 2025
- U.S. Census Bureau and HUD, New Residential Sales by Region
- National Association of REALTORS®, Existing Home Sales Report, June 2025
- California Association of REALTORS®
- Redfin, California Home Sales Data
- First Tuesday, California Escrow Closures
- Florida Realtors, June 2025 Market Update
- Sarasota and Manatee County MLS Reports
- Redfin, Texas Home Sales
- Austin Board of Realtors
- Tarrant County MLS
- Ohio REALTORS®
- Georgia Association of REALTORS®
- Pennsylvania Association of Realtors®
- New York State Association of REALTORS®
- Realtor.com June 2025 Housing Market Report
View how we can help you gain an advantage over your competitors here.