Existing-Home Sales Ticked Up by 0.6% in January

Existing-Home Sales in January 2021

Existing-home sales ticked up slightly in January and increased 23.7% from a year ago, according to the latest data from the National Association of REALTORS® (NAR). January reported a seasonally adjusted annual rate of 6.69 million existing-home sales.

Single-family home sales increased at a seasonally adjusted annual rate of 5.93 million in January, rising 0.2% from 5.92 million in December. This is up 23.0% YoY. For condos and co-ops, existing-home sales increased 4.1% from December and 28.8% YoY to a seasonally adjusted annual rate of 760,000.

By Region:

Midwest
Existing-Home Sales: 1.57 million (+22.7% YoY)
Median Price: $227,800 (+14.7% YoY)

Northeast
Existing-Home Sales: 870,000 (+24.3% YoY)
Median Price: $361,400 (+15.8% YoY)

South
Existing-Home Sales: 2.94 million (+25.1% YoY)
Median Price: $263,300 (+14.6% YoY)

West
Existing-Home Sales: 1.31 million (+21.3% YoY)
Median Price: $461,800 (+16.1% YoY)

How the Industry Is Responding:

“Home sales continue to ascend in the first month of the year, as buyers quickly snatched up virtually every new listing coming on the market. Sales easily could have been even 20% higher if there had been more inventory and more choices. Home sales are continuing to play a part in propping up the economy. With additional stimulus likely to pass and several vaccines now available, the housing outlook looks solid for this year.” — Lawrence Yun, NAR Chief Economist

See full article here – https://rismedia.com/2021/02/21/existing-home-sales-ticked-up-january/

For any real estate-related questions you have, you may call David Yudell at 917-817-9701.

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