United States Existing Home Sales

Existing home sales in the US rose by 2.2% from the previous month to a seasonally adjusted annualized rate of 4.38 million units in December of 2024, the most since February 2024. "Home sales in the final months of the year showed solid recovery despite elevated mortgage rates," said NAR Chief Economist Lawrence Yun. "Home sales during the winter are typically softer than the spring and summer, but momentum is rising with sales climbing year-over-year for three straight months. Consumers clearly understand the long-term benefits of homeownership. Job and wage gains, along with increased inventory, are positively impacting the market." Meanwhile, total housing inventory was at 1.15 million units, a 13.5% drop from November, and equivalent to 3.3 months of supply at the current sales pace.