Existing home sales in the US which include completed transactions of single-family homes, town homes, condominiums and co-ops, fell 1.5% to a seasonally adjusted annual rate of 4.02 million in December of 2022, slightly above market forecasts of 3.96 million. It marks an eleventh straight month of falling home sales, the longest stretch since 1999, and the lowest level since November of 2010, as buyers continue to face limited inventory and high mortgage rates. Total housing inventory was 970,000 units, which was down 13.4% from November but up 10.2% from one year ago. The median existing-home price for all housing types was $366,900, an increase of 2.3% from December 2021, as prices rose in all regions. “However, expect sales to pick up again soon since mortgage rates have markedly declined after peaking late last year”, said NAR Chief Economist Lawrence Yun. source: National Association of Realtors

Existing Home Sales in the United States averaged 4064.06 Thousand from 1968 until 2022, reaching an all time high of 7250.00 Thousand in September of 2005 and a record low of 1370.00 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 February of 2023.

Existing Home Sales in the United States is expected to be 4700.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Existing Home Sales is projected to trend around 5550.00 Thousand in 2024 and 5160.00 Thousand in 2025, according to our econometric models.

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United States Existing Home Sales



Calendar GMT Actual Previous Consensus TEForecast
2022-12-21 03:00 PM Nov 4.09M 4.43M 4.2M 4.3M
2023-01-20 03:00 PM Dec 4.02M 4.08M 3.96M 4M
2023-02-21 03:00 PM Jan 4.02M 4M


Related Last Previous Unit Reference
Building Permits 1337.00 1351.00 Thousand Dec 2022
Housing Starts 1382.00 1401.00 Thousand units Dec 2022
Pending Home Sales -33.80 -36.90 percent Dec 2022
Existing Home Sales 4020.00 4080.00 Thousand Dec 2022
Housing Index 392.26 392.78 points Nov 2022
Mortgage Rate 6.19 6.20 percent Jan 2023
Existing Home Sales MoM -1.50 -7.90 percent Dec 2022
Pending Home Sales MoM 2.50 -2.60 percent Dec 2022
Total Housing Inventory 970.00 1140.00 Thousands Dec 2022
House Price Index YoY 8.20 9.80 percent Nov 2022
Single Family Home Prices 366900.00 370700.00 USD Dec 2022

United States Existing Home Sales
In the United States, Existing Home Sales occur when the mortgages are closed. Mortgage closing usually takes place 30-60 days after the sales contract is closed.
Actual Previous Highest Lowest Dates Unit Frequency
4020.00 4080.00 7250.00 1370.00 1968 - 2022 Thousand Monthly
SA

News Stream
US Existing Home Sales Fall to 2010-Lows
Existing home sales in the US which include completed transactions of single-family homes, town homes, condominiums and co-ops, fell 1.5% to a seasonally adjusted annual rate of 4.02 million in December of 2022, slightly above market forecasts of 3.96 million. It marks an eleventh straight month of falling home sales, the longest stretch since 1999, and the lowest level since November of 2010, as buyers continue to face limited inventory and high mortgage rates. Total housing inventory was 970,000 units, which was down 13.4% from November but up 10.2% from one year ago. The median existing-home price for all housing types was $366,900, an increase of 2.3% from December 2021, as prices rose in all regions. “However, expect sales to pick up again soon since mortgage rates have markedly declined after peaking late last year”, said NAR Chief Economist Lawrence Yun.
2023-01-20
Existing Home Sales Down for 10th Month
Existing home sales in the US which include completed transactions of single-family homes, townhomes, condominiums and co-ops, plunged 7.7% to a seasonally adjusted annual rate of 4.09 million in November of 2022, much worse than market forecasts of 4.2 million. It marks then tenth straight month of falling sales and the lowest level since May of 2020 as high mortgage rates weigh on affordability. First-time buyers were responsible for 28% of sales in November, which was unchanged from October. The median existing-home sales price rose 3.5% year-on-year to $370,700. The inventory of unsold existing homes retreated for the fourth straight month to 1.14 million or the equivalent of 3.3 months' supply at the current monthly sales pace. Year-over-year, sales sank by 35.4%, the weakest pace since November 2010, with the exception of May 2020 in the height of the covid pandemic.
2022-12-21
US Existing Home Sales Lowest since 2011
Existing home sales in the US tumbled 5.9% to a seasonally adjusted annual rate of 4.43 million in October of 2022, the lowest since December of 2011 with the exception of a very brief fall at the beginning of the pandemic, and compared to the market forecasts of 4.38 million. It was the ninth straight month of falling sales as home prices remained elevated and a 30-year fixed mortgage rate hit a 20-year high pushing many buyers out of the market. "More potential homebuyers were squeezed out from qualifying for a mortgage in October as mortgage rates climbed higher. The impact is greater in expensive areas of the country and in markets that witnessed significant home price gains in recent years", said NAR Chief Economist Yun. Meanwhile, the total housing inventory fell 0.8% to 1.22 million units. The median existing-home price for all housing types was $379,100, up 6.6% from October 2021. Properties typically remained on the market for 21 days in October, up from 19 days in September.
2022-11-18