On February 19, 2021, National Association of Realtors (NAR) reported that regional existing home sales in the Northeast decreased 2.2% in January of 2021 to an annual rate 870,000 homes from December of 2020, but rose 24.3% from January of 2020. The median price in the Northeast was $361,100 in January 2021, higher 15.8% from January of 2020.
Home sales in the Midwest grew 1.9% in January of 2021 to an annual rate 1.570,000 homes from December of 2020, and increased 22.7% from January of 2021. The median price in the Midwest was $227,800 in January of 2021, gained 14.7% from January of 2020.
Home sales in the South up 3.2% in January of 2021 to an annual rate 2,940,000 homes from December of 2020, and jumped 25.1% from January of 2020. The median price in the South was $263,300 in January of 2021, soar 14.6% from January of 2020.
Home sales in the West dropped 4.4% in January of 2021 to an annual rate 1.310,000 homes from December of 2020, and rose 21.3% from January of 2020. The median price in the West was $461,800 in January of 2020, higher 16.1% from January of 2021, according to NAR on February 22, 2021.
Lawrence Yun, NAR chief economist, stated "Sales easily could have been even 20% higher if there had been more inventory and more choices."
For more complete information, on NAR's January of 2021 regional existing home sales report, please click HERE
