Housing Market Sizzles in January 2022, Well Above Typical Winter Activity

According to realtor.com®’s monthly housing report released on Tuesday (2-8-22), the typical U.S. home sold faster in January 2022 than in any other January on record. The report notes that the housing market remains “unseasonably hot” over the typically slower winter months.

In January, the typical U.S. home spent 61 days on the market before being sold, which is 10 fewer days than a year ago and 29 fewer days compared with the pre-pandemic era of 2017–2019, realtor.com® reports.

In a statement prepared to accompany the monthly housing report, realtor.com’s chief economist, Dannielle Hale said, “We’re forecasting a whirlwind year ahead for buyers and, if January housing trends are any indication, 2022 competition is already heating up. Homes sold at a record-fast January pace, suggesting that buyers are more active than usual for this time of year.”

Hale added that housing choices for buyers remain low, as the number of new listings continued to decline in January.

“Factors like omicron uncertainties could be causing sellers to hesitate even when they know housing conditions are favorable,” Hale said. “Another key barrier is the inventory ‘chicken and egg’ dilemma that may vex sellers who are also buying: Do you list now when home shoppers are hungry for more options, or do you wait for more inventory to hit the market in the spring?”