Home Sales Drop in December, Supply at Record Low
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