On January 20, 2022, National Association of Realtors (NAR) reported that regional existing home sales in the Northeast declined 1.3% in December of 2021 to an annual rate 750,000 homes from November of 2021, but rose 15.7% from December of 2020. The median price in the Northeast was $384,600 in December 2021, higher 6.3% from December of 2020.
Home sales in the Midwest down 1.3% in December of 2021 to an annual rate 1,500,000 homes from November of 2021, and decreased 2.6% from December of 2020. The median price in the Midwest was $256,900 in December of 2021, increased 10.0% from December of 2020.
Home sales in the South dropped 6.3% in December of 2021 to an annual rate 2.700,000 homes from November of 2021, and lower 5.3% from December of 2020. The median price in the South was $323,000 in December of 2021, jumped 20.2% from December of 2020.
Home sales in the West declined 6.8% in December of 2021 to an annual rate 1.230,000 million homes from November of 2021, and fell 10.2% from December of 2020. The median price in the West was $507,100 in December of 2021, higher 8.4% from December of 2020.
Lawrence Yun, NAR chief economist, stated "I also expect home prices to grow more moderately by 3% to 5% in 2022, and then similarly in 2023 as more supply reaches the market."
For more complete information, on NAR's December of 2021 regional existing home sales report, please click HERE
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