Existing Home Sales Decreased 4.9% in January, But Increased Year-Over-Year for Four Consecutive Months

Existing-home sales slid 4.9% in January to a seasonally adjusted annual rate of 4.08 million. However, sales rose 2.0% from one year ago, the fourth straight monthly year-over-year increase.

The median existing-home sales price advanced 4.8% from January 2024 to $396,900, the 19th consecutive month of year-over-year price increases.

The inventory of unsold existing homes grew 3.5% from the prior month to 1.18 million at the end of January, or the equivalent of 3.5 months' supply at the current monthly sales pace.