Home Sales Drop in December, Supply at Record Low

Video Credit: Wibbitz Top Stories
Published on January 20, 2022 - Duration: 01:30s

Home Sales Drop in December, Supply at Record Low

Home Sales Drop in December, , Supply at Record Low.

CNBC reports sales of previously-owned homes fell by 4.6% in December.

According to data from the National Association of Realtors (NAR), December sales in total were down 7.1% year over year.

According to data from the National Association of Realtors (NAR), December sales in total were down 7.1% year over year.

Home sales in 2021 totaled 6.12 million.

According to CNBC, 2021 experienced the highest total home sales since 2006.

After a banner year for realtors, sales are starting to drop.

Experts say this may be due to a lack of supply.

Experts say this may be due to a lack of supply.

By the closing of December 2021, only 910,000 homes were for sale in the United States, down 14.2% from the year prior.

By the closing of December 2021, only 910,000 homes were for sale in the United States, down 14.2% from the year prior.

CNBC reports that a healthy housing market strikes a balance between buyers and sellers.

Experts say, if balanced, the housing market has a supply of four to six months.

At its current pace, the pitfall of available homes for sale in the United States represents a 1.8 month supply


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