Existing Home Sales December 2022

Existing-home sales faded for the eleventh straight month to a seasonally adjusted annual rate of 4.02 million. Sales waned 1.5% from November and 34.0% from one year ago. The median existing-home sales price climbed 2.3% from the previous year to $366,900. Existing-home sales totaled 5.03 million in 2022, down 17.8% from 2021, as last year’s rapidly escalating interest rate environment weighed on the residential real estate market. Please reach out if you have questions about the current real estate market.