【NAR】Existing-Home Sales Ascended 2.2% in December

• Existing-home sales rose 2.2% in December to a seasonally adjusted annual rate of 4.24 million, the strongest pace since February 2024 (4.38 million). Sales grew 9.3% from one year ago, the largest year-over-year gain since June 2021 (+23.0%). The median existing-home sales price progressed 6.0% from December 2023 to $404,400, the 18th consecutive month of year-over-year price increases and biggest year-over-year growth since October 2022 (+6.5%).
• Even with the solid upturn in the fourth quarter, on an annual basis, existing-home sales (4.06 million) fell to the lowest level in nearly 30 years, while the median price reached a record high of $407,500 in 2024.
• The inventory of unsold existing homes dropped 13.5% from the previous month to 1.15 million at the end of December, or the equivalent of 3.3 months' supply at the current monthly sales pace.

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