From housing economist Tom Lawler:
Based on publicly-available local realtor/MLS reports released across the country through today, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 6.36 million in January, up 4.3% from December’s preliminary pace but down 4.5% from last January’s seasonally adjusted pace.
Local realtor reports, as well as reports from national inventory trackers, suggest that the YOY % decline in the inventory of existing homes for sale last month was a bit larger than that in December.
Finally, local realtor/MLS reports suggest the median existing single-family home sales price last month was up by about 14.5% from last January.
(Note: The January NAR report will incorporate updated seasonal adjustment factors.)
CR Note: The National Association of Realtors (NAR) is scheduled to release January existing home sales tomorrow, Friday, February 18, 2022, at 10:00 AM ET. The consensus is for 6.12 million SAAR. Take the over.
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