HOME SALES FELL 4.9% IN JANUARY

[infogram id=”e16aba01-d9f1-4744-a9c2-e00eb85aaba7″ prefix=”0yw” format=”interactive” title=”EXISTING HOME SALES SCORECARD 02212025″]

Key Points:

  • Existing-home sales fell 4.9% in January from December to a seasonally adjusted annual rate of 4.08 million.
  • Sales accelerated 2.0% from one year ago, the fourth consecutive month of year-over-year increase.
  • The median existing-home sales price rose 4.8% from January 2024 to $396,900, the 19th consecutive month of year-over-year price increases.
  • First-time buyers were responsible for 28% of sales in January, down from 31% in December and identical to January 2024.
  • “Mortgage rates have refused to budge for several months despite multiple rounds of short-term interest rate cuts by the Federal Reserve,” said NAR Chief Economist Lawrence Yun. “When combined with elevated home prices, housing affordability remains a major challenge.”
  • The Right Facts will continue to monitor home sales.
Source