Existing-home sales rose 2.2% in December, reaching an annualized rate of 4.24 million—the strongest level since February 2024. The median existing-home price increased 6.0% year-over-year to $404,400, continuing 18 consecutive months of price growth. Despite this improvement, 2024 home sales hit a 30-year low of 4.06 million, although the median price set a record of $407,500. Inventory dropped 13.5%, equating to a 3.3-month supply.
Our Take
This rebound may signal a bottoming out of existing home sales despite high mortgage rates. Agents should focus on the current opportunities created by tight inventory and strong demand.
📞 Contact Abdo Pierre Faissal at 310-620-1038 | ✉️ [email protected] for expert insights into the housing market.
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