On January 20, 2022, National Association of Realtors® (NAR) reported that nationwide existing home sales declined 4.6% to annual rate of 6.18 million homes in December of 2021 from 6.46 million homes in November of 2021, and decreased 7.1% from 6.65 million homes from December of 2020.
There were 910,000 homes supplies of available inventory in December of 2021 dropped 18.0% from November of 2021, and fell 14.2% from 1.08 million homes in December of 2020; while, there were 1.8 months available inventory in December of 2021 lower from to 2.1 months in November 2021, and down from 1.9 months in December of 2020.
On average it took 19 days to sell a home in December of 2021, up from 18 days in November of 2021, but declined from 21 days in December 2020.
First time buyers acquired 30.0% of homes in December of 2021, higher from 26.0% in November of 2021, but lower from 31.0% in December of 2020.
Cash buyers purchased 23.0% of all sales in December of 2021, decreased from 24.0% in November of 2021, and from 19.0% in December of 2020.
Investors purchased 17.0% of homes in December of 2021, increased 15.0% in November of 2021, and gained from 14.0% in December of 2020, according to NAR on January 20, 2022.
Lawrence Yun, NAR chief economist, stated "Sales for the entire year finished strong, reaching the highest annual level since 2006."
For more complete information, on NAR's December of 2021 existing home sales report, please click HERE
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