01/22/2024
December’s Existing Home Sales Likely a “Bottom”
Existing Home Sales fell 1% from November to December to a 3.78-million-unit annualized pace, coming in below estimates of an unchanged reading per the National Association of REALTORS® (NAR). Sales were also 6.2% lower than they were in December 2022.
What’s the bottom line? This report measured closings on existing homes in December and likely reflects people shopping for homes in October and November, when rates peaked.