Sales of previously owned houses in the US dropped 9.7 percent from the previous month to a seasonally adjusted annual rate of 3.91 million units in May of 2020, below market expectations of 4.12 million. It is the lowest reading since October of 2010 as the coronavirus continues to take a toll on the economy. Declines were seen in all regions, although the Northeast experienced the greatest drop. Year-on-year, sales were down 26.6 percent, the biggest drop since 1982. The median existing-home price for all housing types in May was $284,600, up 2.3 percent from May 2019 ($278,200). Total housing inventory at the end of May totalled 1.55 million units, up 6.2 percent from April, and down 18.8 percent from one year ago. "Home sales will surely rise in the upcoming months with the economy reopening, and could even surpass one-year-ago figures in the second half of the year”, Lawrence Yun, NAR’s chief economist said.

Existing Home Sales in the United States averaged 3982.07 Thousand from 1968 until 2020, reaching an all time high of 7250 Thousand in September of 2005 and a record low of 1370 Thousand in March of 1970. This page provides the latest reported value for - United States Existing Home Sales - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Existing Home Sales - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: National Association of Realtors

Existing Home Sales in the United States is expected to be 3850.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Existing Home Sales in the United States to stand at 2700.00 in 12 months time. In the long-term, the United States Existing Home Sales is projected to trend around 3200.00 Thousand in 2021 and 3700.00 Thousand in 2022, according to our econometric models.

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United States Existing Home Sales

Actual Previous Highest Lowest Dates Unit Frequency
3910.00 4330.00 7250.00 1370.00 1968 - 2020 Thousand Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-05-21 02:00 PM Existing Home Sales MoM Apr -17.8% -8.5% -18.9% -24.1%
2020-05-21 02:00 PM Existing Home Sales Apr 4.33M 5.27M 4.3M 4.0M
2020-06-22 02:00 PM Existing Home Sales MoM May -9.7% -17.8% -3% -2%
2020-06-22 02:00 PM Existing Home Sales May 3.91M 4.33M 4.12M 4.20M
2020-07-22 02:00 PM Existing Home Sales Jun 3.91M 3.85M
2020-08-21 02:00 PM Existing Home Sales Jul
2020-09-22 02:00 PM Existing Home Sales Aug
2020-10-22 02:00 PM Existing Home Sales Sep 2.2M


News Stream
US Existing Home Sales Fall for 3rd Month
Sales of previously owned houses in the US dropped 9.7 percent from the previous month to a seasonally adjusted annual rate of 3.91 million units in May of 2020, below market expectations of 4.12 million. It is the lowest reading since October of 2010 as the coronavirus continues to take a toll on the economy. Declines were seen in all regions, although the Northeast experienced the greatest drop. Year-on-year, sales were down 26.6 percent, the biggest drop since 1982. The median existing-home price for all housing types in May was $284,600, up 2.3 percent from May 2019 ($278,200). Total housing inventory at the end of May totalled 1.55 million units, up 6.2 percent from April, and down 18.8 percent from one year ago. "Home sales will surely rise in the upcoming months with the economy reopening, and could even surpass one-year-ago figures in the second half of the year”, Lawrence Yun, NAR’s chief economist said.
2020-06-22
US Existing Home Sales Plunge to 2009-Lows
Sales of previously owned houses in the US sank 17.8 percent from the previous month to a seasonally adjusted annual rate of 4.33 million units in April of 2020, barely in line with market expectations of 4.3 million. It is the lowest reading since September of 2009 and the biggest drop since July of 2010 as the coronavirus took a toll on the economy. Sales declined in all four regions. Single-family home sales went down 16.9 percent to 3.94 million and existing condominium and co-op sales slumped 26.4 percent to 0.390 million. There were 1.47 million houses available, the lowest on record for the month; at April's sales pace, it would take 4.1 months to clear the current inventory, higher than 3.4 months on March. The median house price increased 2.2 percent to USD 286,800.
2020-05-21
US Existing Home Sales Drop the Most since 2015
Sales of previously owned houses in the US sank 8.5 percent from the previous month to a seasonally adjusted annual rate of 5.27 million units in March of 2020, slightly below market expectations of 5.3 million. It is the biggest drop since November of 2015 but the lowest rate since April of 2019 only. The data includes contracts signed in January and February, before the coronavirus took a toll on the economy. Sales went down in all regions: the West (-13.6 percent), the South (-9.1 percent), the Northeast (-7.1 percent) and the South (-3.1 percent). Single-family home sales went down 8.1 percent to 4.74 million and existing condominium and co-op sales slumped 11.7 percent to 0.530 million. There were 1.5 million houses available; at March's sales pace, it would take 3.4 months to clear the current inventory, higher than 3 months on February. The median house price increased 3.8 percent to USD 280,600.
2020-04-21
US Existing Home Sales at 13-Year High
Sales of previously owned houses in the US surged 6.5 percent from the previous month to a seasonally adjusted annual rate of 5.77 million units in February of 2020, above market expectations of 5.5 million. It is the highest level since February of 2007. Single-family home sales sat at a seasonally-adjusted annual rate of 5.17 million, up from 4.82 million in January. Existing condominium and co-op sales were recorded at a seasonally adjusted annual rate of 600,000 units in February, about even with January’s sales. There were 1.47 million houses available; at February's sales pace, it would take 3.1 months to clear the current inventory, the same as in January. The median house price increased 8 percent year-on-year to USD 270,100.
2020-03-20

United States Existing Home Sales
Existing Home Sales occurs when the mortgage is closed. Mortgage closing usually takes place 30-60 days after the sales contract is closed. .