US Existing-Home Sales Decline 4.9% in January

On Friday, the National Association of Realtors (NAR) reported that total existing-home sales—completed transactions for single-family homes, townhomes, condominiums, and co-ops—declined 4.9% to a seasonally adjusted annual rate of 4.08 million in January. Year-over-year, sales increased 2.0%, up from 4.0 million in January 2024.

Sales decreased in three of four regions, with the Midwest holding steady. Year-over-year, sales rose in three regions and were unchanged in the South.

Total housing inventory registered at the end of January was 1.18 million units, up 3.5% from December and 16.8% from a year ago (1.01 million). Unsold inventory sits at a 3.5-month supply at the current sales pace, up from 3.2 months in December and 3.0 months in January 2024.

The median existing-home price for all housing types in January was $396,900, up 4.8% from a year ago ($378,600). All four regions registered price increases.

According to the monthly REALTORS® Confidence Index, properties typically remained on the market for 41 days in January, up from 35 days in December and 36 days in January 2024.