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US Existing-Home Sales Jump to 15-Year High Despite December Decline

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Existing-home sales in the United States climbed to a 15-year high in 2021, even as figures posted a decline in the last month of the year.

Source: National Association of Realtors

XHB is up 0.89%.

Existing-home sales slowed to 6.18 million in December on a seasonally adjusted annualized rate, marking a 4.6% decline from November. Sales fell by 7.1% year-on-year from 6.65 million in December 2020.

NAR Chief Economist attributed the December decline to the supply constraints rather than an indication of a weakened demand for housing. Total inventory at the end of December stood at 910,000 units, down 18.0% from November and 14.2% from 2020.

The median price for all housing types increased 15.8% to $358,000, marking the 118th straight month of year-on-year increases. Prices grew in all the regions, with the south recording the highest pace.

Existing-home sales for the year totaled 6.12 million, up 8.5% from the previous year and the biggest annual level since 2006.

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