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From housing economist Tom Lawler:
Based on publicly-available local realtor/MLS reports released across the country through today, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 6.33 million in December, down 2.0% from November’s preliminary pace and down 4.8% from last December’s seasonally adjusted pace.
Local realtor reports, as well as reports from national inventory trackers, suggest that the YOY % decline in the inventory of existing homes for sale last month similar to the drop in November.
Finally, local realtor/MLS reports suggest the median existing single-family home sales price last month was up by about 14.5% from last December.
CR Note: The National Association of Realtors (NAR) is scheduled to release November existing home sales on Thursday, January 20, 2022, at 10:00 AM ET. The consensus is for 6.45 million SAAR. Take the under.
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