Pent-up demand is returning, but national sales levels will stay subdued through the 2nd half of 2025.
2026 outlook improves with stronger sales, modest price gains, and reduced market uncertainty.
National home sales are expected to decline by 3.3% in 2025 before rebounding strongly by 12.7% in 2026.
Meanwhile, home prices are forecasted to drop 2.6% in 2025 but recover with a 5.2% increase in 2026.
Federal housing plan may aid supply, but completions likely delayed until late 2026.