Sales with existing home rose by 2.2% in December

Washington (January 24, 2025)-according to information from the National Association of Realtors® rose in December in December. Sales increased in three large US regions and slipped in the middle west. The turnover of year to year accelerated in all four regions.

The existing sales at home (4.06 million) have been returned to the lowest level since 1995, while the middle price reached a record high of $ 407,500 in 2024.

In total Existing sales at home¹ -Flapped transactions that include single -family houses, town houses, condominiums and cooperatives increased by 2.2% from November to a seasonally adjusted annual rate of 4.24 million in December. Sales from year to year rose by 9.3% (compared to 3.88 million in December 2023).

“Despite increased mortgage interest rates, the turnover of homes in the last months of the year showed a solid relaxation,” said Nar chef economist Lawrence Yun. “The sales of homes in winter are usually softer than in spring and summer, but the dynamics increase three months with the sale of sales in the course of the year. Consumers understand the long -term advantages of home ownership and wage gains together with the long -term advantages. Increased inventory has a positive effect on the market.

Total care inventory² At the end of December, 1.15 million units were, which went a decline of 13.5% compared to 16.2% compared to a previous year (990,000). The inventory that has not been sold is 3.3 months in the current sales pace, compared to 3.8 months in November, compared to 3.1 months in December 2023.

The median existing price of houses³ For all apartments in December, $ 404,400, an increase of 6.0% compared to a year ago ($ 381,400). All four US regions recorded price increases.

“The average house price was partly increased to the relative performance of the upper market,” added Yun. “Sales increased by 35% for houses of over 1 million US dollars compared to the previous year, while sales for houses have dropped at a price of less than 250,000 US dollars.”

Realors® Confidence Index

According to the monthly Realors® confidence index, the properties remained on the market for 35 days in December, compared to 32 days in November and 29 days in December 2023.

First buyers were responsible for 31% of sales in December, compared to 30% in November 2024 and 29% in December 2023. Nars 2024 Profile of the buyers and sellers of homes – Published November 2024⁴ -tified that the annual share of the first buyers was 24%, the lowest that has ever been recorded.

The turnover of cash made up for 28% of the transactions in December, compared to 25% in November, but of 29% in December 2023.
Individual investors or buyers in the second home who make up many cash turnover bought 16% of the houses in December, from 13% in November and identical until December 2023.

Necessary sales⁵ – Foreclosure and empty sales – made 2% of sales in December compared to November and the previous year.

Mortgage interest

According to Freddie Mac, the 30-year-old festival mortgage is fixed Average 6.96% on January 23. That dropped of 7.04% a week ago, but after 6.69% a year ago.

Single-family and condominium/co-op sale

In December, sales with single -family houses increased by 1.9% to a season -adjusted annual rate of 3.83 million by 1.1% compared to the previous year. The medium -sized family house price was $ 409,300 in December, which rose by 6.1% in December 2023.
The existing sales with condominium and Koop rose by 5.1% to a season rate of 410,000 units in December, which increased an increase of 2.5% compared to a previous year (400,000). The medium -sized condominium price was $ 359,000 in December and increased by 4.5% ($ 343,500) compared to the previous year.

Regional collapse

In December, existing sales at home in the northeast rose by 3.9% to an annual price of 530,000, which increased an increase of 10.4% compared to December 2023. The middle price in the northeast was $ 478,900, which was an increase of 11.8% compared to the previous year.

In the middle west, existing sales at home in December fell by 1.0% to an annual rate of 990,000, 6.5% compared to the previous year. The middle price in the middle west was $ 298,600, which rose by December 2023 by 9.0%.

The existing sales in the south rose from November from November to an annual rate of 1.93 million in December, an increase of 9.0% compared to a year earlier. The middle price in the south was 361,800 US dollars, an increase of 3.4% compared to a year earlier.

In the west, existing sales at home in December increased by 2.6% to an annual rate of 790,000, which rose by 12.9% compared to the previous year. The median price in the West was $ 614,500, compared to 6.0%compared to December 2023.

About the National Association of Realtors®

As an America’s largest trade association, the National Association of Realtors® is involved in all aspects of residential and commercial areas. The term realor® is a registered collective membership note that identifies a real estate specialist who is a member of the National Association of Realtors® and subscribes to its strict ethics code. For free consumer guidelines for navigating the properties and the sale of transaction processes – from written buyer agreements to negotiation compensation – visit facts. Realor.

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For local information, please contact the Local Association of Realtors® to receive data from local multiple listing services (MLS). Local MLS data are the most accurate source for sales and price information in certain areas, although there may be differences in the reporting method.

Note: The outstanding Home Sales Index for December will be released on January 30th, and the existing sales of houses for January will be released on February 21. The publication times are 10 a.m. See NARS statistical press release plan.

¹ Existing sales at home, which include single -family houses, town houses, condominiums and cooperatives, are based on transaction closures from several listing services. Changes to the sales trends outside of MLSS are not recorded in the monthly series. Nar -Benchmarks sales at regular intervals with other sources to evaluate the sales trends of the entire homes, including the sales reported by MLSS.

The existing sales at home based on closures differ from the series of the US Census Bureau to new single -family houses that are based on contracts or the acceptance of a deposit. Because of these differences, it is not unusual for each series to move in different directions in the same month. In addition, the existing sales of houses are based, in which more than 90% of the total turnover of their own homes reveal.

The annual price for a certain month corresponds to the total number of actual sales for one year if the relative pace for this month is retained for 12 consecutive months. Seasonally adapted annual prices are used to report monthly data in order to take into account seasonal deviations in resale activity. For example, the sales volume of homes is usually higher in summer than in winter, especially due to the differences in the weather and in the family shopping pattern. However, seasonal factors cannot compensate for abnormal weather patterns.

The single -family recording began in 1968, while the data acquisition of Condo began in 1981. The series was combined in 1999 when the monthly collection of condominium data began. Before this period, single -family houses made up more than nine out of ten purchases. Historical comparisons for the total turnover of homes before 1999 are based on monthly single -family sales, combined with the corresponding quarterly sales rate for condominiums.

² The supply data of the entire inventory and the month are available until 1999, while a single -family inventory and the range of the month are based on 1982).

³ The middle price is where half was sold for more and half for less. Medians are more typical of market conditions than the average prices, which are distorted higher due to a relatively small proportion of surface transactions. The only valid comparisons for median prices are the same period in the previous year due to the seasonality among the buying patterns. Monthly comparisons do not compensate for seasonal changes, especially for the time of the family purchase patterns. Changes in the composition of sales can distort the median price data. Average and medium-sized prices of century are sometimes revised in an automated process when additional data is received.

The national median condominium/co-op price is often higher than the median single-family house price, since condominiums are concentrated on higher housing markets. In a certain area, however, as a rule, for more than condominiums, as in the quarterly price reports of Nar underground area reports.

⁴ Survey results represent the owner and differentiate between a separately registered monthly findings of the NAR REALTORS® Confidence Index, which includes all types of buyers. The annual study only provides primary purchases and does not include buyers of investors and holiday home. The results include both new and existing houses.

⁵ Salesed sales (enforcements and empty sales), days on the market, first buyers, all-cash transactions and investors come from a monthly survey for the Realors® Confidenz Index of the NAR, which was published by Nar.Realor.