The national housing market is currently experiencing a blend of growth and contraction across various metrics. The Median Sales Price has risen to $438,488.19, marking a 3.3% increase year-over-year (YoY). This upward trend is mirrored in the Median List Price, which has climbed to $450,102.92, reflecting a 4.9% YoY increase. These figures suggest a robust demand for housing, despite some challenges in other areas of the market.

When examining the Price Per Square Foot, the Median Sales Price per square foot stands at $239.63, up by 3.2% YoY. Similarly, the Median List Price per square foot has increased to $249.08, a 4.9% rise YoY. These increases indicate a consistent appreciation in property values, which may be attributed to limited supply and sustained buyer interest.

However, the number of Homes Sold has decreased by 1.9% YoY, totaling 425,331.82 units. Pending Sales have also seen a decline, dropping by 6.2% YoY to 463,054.24. New Listings have decreased by 5.0% YoY, with a total of 532,036.73. These declines suggest a cooling in market activity, potentially due to affordability challenges or shifting buyer preferences.

Conversely, inventory levels have increased significantly, with a 9.0% YoY rise, bringing the total to 1,258,857.34. This increase in inventory, coupled with a 53.7% YoY rise in Months of Supply to 3.06, indicates a shift towards a more balanced market. The Median Days on Market have also increased by 6.0% YoY, now averaging 43.16 days, suggesting that homes are taking longer to sell.

The average sale to list ratio has slightly decreased by 0.2% YoY, now at 99.0%, indicating that homes are selling closer to their list prices. The percentage of Homes Sold above list price has decreased by 1.8% YoY to 28.5%, reflecting a moderation in competitive bidding. Price Drops have increased by 4.1% YoY, now at 20.4%, which may indicate sellers adjusting expectations in response to market conditions.

Additionally, the percentage of homes going off the market within two weeks has decreased by 3.7% YoY, now at 35.6%. This decline suggests a slower pace of transactions, possibly due to increased inventory and longer decision-making times for buyers.

Overall, the national housing market presents a complex picture with rising prices and increased inventory, yet declining sales and slower market dynamics. These trends highlight the evolving nature of the market, influenced by economic factors and changing buyer behaviors.