Existing-Home Sales Rise 2.2% in December, Offering Hopeful Signs for 2025
According to the National Association of REALTORS® (NAR), existing-home sales saw a 2.2% rise in December, reaching a seasonally adjusted annual rate of 4.24 million, marking the strongest pace since February 2024. Sales also grew 9.3% compared to last year, the biggest annual increase since June 2021. The median price rose 6.0% year-over-year (YoY) to $404,400, continuing a streak of 18 months of price growth, and the largest increase since October 2022. However, despite the solid end to the year, existing-home sales for 2024 were the lowest in nearly 30 years, while the median price hit a record high of $407,500. Inventory fell by 13.5% from November, leaving just 3.3 months' supply available. With this winter’s market heating up, the surge in sales signals an upward trend for the housing industry in the coming months.
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