Existing-home sales rose 2.2% in December, with median sales price up 6.0%

From GlobeNewswire: 2025-01-24 10:00:00

Existing-home sales increased by 2.2% in December to a rate of 4.24 million, the strongest pace since February 2024. The median existing-home sales price rose 6.0% to $404,400, marking the 18th consecutive month of year-over-year price increases. Despite the strong fourth quarter, annual existing-home sales fell to the lowest level in nearly 30 years. The inventory of unsold existing homes dropped 13.5% to 1.15 million, equivalent to 3.3 months’ supply at the current sales pace. Sales grew in three major U.S. regions and declined in the Midwest, with year-over-year acceleration in all four regions. Local MLS data provides the most accurate sales and price information for specific areas, with NAR’s Pending Home Sales Index for December coming out on January 30 and Existing-Home Sales for January on February 21. Existing-home sales are based on transaction closings from Multiple Listing Services, which account for more than 90% of total home sales. The median price represents where half sold for more and half sold for less, with medians offering a more typical market condition than average prices. Survey results from NAR represent owner-occupants and exclude investor and vacation home buyers, focusing only on primary residence purchases.



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