New numbers from the National Association of Realtors show sales of previously owned homes rose 2.2 percent in December from one month earlier. The improvement pushed sales to their strongest pace since February 2024 and led to the largest year-over-year gain since June 2021. Regionally, sales increased everywhere but the Midwest, which saw a 1 percent month-over-month decline. Lawrence Yun, NAR’s chief economist, says existing-home sales have defied typical seasonal patterns. “Home sales in the final months of the year showed solid recovery despite elevated mortgage rates,” Yun said. “Home sales during the winter are typically softer than the spring and summer, but momentum is rising with sales climbing year-over-year for three straight months.” Also in the report, total housing inventory is now up 16.2 percent from one year ago, putting current unsold inventory at a 3.3-month supply. A six-month supply is generally considered healthy for the market. (source)
