The decades-low existing-home sales of 4.06 million units came while the median price of homes hit a record high of $407,500 last year, NAR said. In December 2024, the median existing-home price was up 6 percent from a year ago, with all four U.S. regions registering price hikes.President Donald Trump signed a memorandum last week to rein in inflation costs facing Americans, including bringing down the cost of housing. The memo blamed regulatory requirements as contributing to the problem as these expenses "alone account for 25 percent of the cost of constructing a new home," it said.
Trump’s executive action directed agencies to deliver "emergency price relief" for Americans, including pursuing actions to lower housing costs and improve the supply of homes in the market.
Trump has nominated Bill Pulte, known for his philanthropic initiatives, for director of the Federal Housing Finance Agency, which regulates Fannie Mae, Freddie Mac, and Federal Home Loan Banks. The National Association of Home Builders (NAHB) welcomed the nomination.