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MNI: US Dec Existing Home Sales Drop Smaller Than Expected

(MNI) WASHINGTON

U.S. sales of existing homes fell again in December by 1.5% to a 4.02 million seasonally adjusted annual rate, a more modest drop than the 3.96 million pace Wall Street expected. The median sales price also saw the smallest gain since May 2020, the National Association of Realtors said Friday.

Existing home sales have fallen steadily since the Fed began tightening monetary policy in early 2022 from 6.09 million at the end of 2021. Still, the median sales price has risen to USD366,900, a 2.3% increase from a year earlier.

MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com

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