US existing home sales grew by 6.7% in January 2022

Posted on February 28, 2022 |

The total existing-home sales which completed transactions for single-family homes, townhomes, condominiums, and co-ops grew by 6.7% in January from December to a seasonally adjusted rate at 6.50 million homes.
In January 2022, the median existing-home price for all housing types grew by 15.4% to $350,300 up from January 2021 which is 119 straight months of year-over-year increases and the longest-running streak on record.
On a month-over-month basis, four major U.S. regions saw an increase in sales in January but year-over-year, activity was mixed as two regions experienced slow sales.
Total housing inventory at the end of January reached 860,000 units, a drop of 2.3% from December and 16.5% from one year ago.

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