Sales of previously owned houses in the US plunged 6.6% from the previous month to 6.22 million units in February of 2021, the least in 6 months and much worse than market forecasts of a 3 percent drop as supply dropped the most on record. Total housing inventory at the end of February amounted to 1.03 million units, equal to January’s inventory and down 29.5% from one year ago. Meanwhile, the median existing-home price for all housing types was $313,000, up 15.8% from February 2020 as prices rose in every region. Only the West saw an increase in February while all the other regions recorded declines. "Despite the drop in home sales for February – which I would attribute to historically-low inventory – the market is still outperforming pre-pandemic levels," said Lawrence Yun, NAR’s chief economist. "Various stimulus packages are expected and they will indeed help, but an increase in inventory is the best way to address surging home costs", Lawrence added. source: National Association of Realtors

Existing Home Sales in the United States averaged 4013.73 Thousand from 1968 until 2021, reaching an all time high of 7250 Thousand in September of 2005 and a record low of 1370 Thousand in March of 1970. This page provides the latest reported value for - United States Existing Home Sales - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Existing Home Sales - data, historical chart, forecasts and calendar of releases - was last updated on April of 2021.

Existing Home Sales in the United States is expected to be 6550.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Existing Home Sales in the United States to stand at 5600.00 in 12 months time. In the long-term, the United States Existing Home Sales is projected to trend around 4700.00 Thousand in 2022, according to our econometric models.

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United States Existing Home Sales

Actual Previous Highest Lowest Dates Unit Frequency
6220.00 6660.00 7250.00 1370.00 1968 - 2021 Thousand Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-02-19 03:00 PM Existing Home Sales MoM Jan 0.6% 0.9% -1.5% -1.5%
2021-02-19 03:00 PM Existing Home Sales Jan 6.69M 6.65M 6.61M 6.66M
2021-03-22 02:00 PM Existing Home Sales MoM Feb -6.6% 0.2% -3% -1.5%
2021-03-22 02:00 PM Existing Home Sales Feb 6.22M 6.66M 6.5M 6.5M
2021-04-22 02:00 PM Existing Home Sales Mar 6.22M 6.19M 6.25M
2021-04-22 02:00 PM Existing Home Sales MoM Mar -6.6% 0.8% 0.5%
2021-05-21 02:00 PM Existing Home Sales Apr
2021-05-21 02:00 PM Existing Home Sales MoM Apr


News Stream
US Existing Home Sales at 6-Month Low
Sales of previously owned houses in the US plunged 6.6% from the previous month to 6.22 million units in February of 2021, the least in 6 months and much worse than market forecasts of a 3 percent drop as supply dropped the most on record. Total housing inventory at the end of February amounted to 1.03 million units, equal to January’s inventory and down 29.5% from one year ago. Meanwhile, the median existing-home price for all housing types was $313,000, up 15.8% from February 2020 as prices rose in every region. Only the West saw an increase in February while all the other regions recorded declines. "Despite the drop in home sales for February – which I would attribute to historically-low inventory – the market is still outperforming pre-pandemic levels," said Lawrence Yun, NAR’s chief economist. "Various stimulus packages are expected and they will indeed help, but an increase in inventory is the best way to address surging home costs", Lawrence added.
2021-03-22
Existing Home Sales Rise for 2nd Month
Sales of previously owned houses in the US were up 0.6% from the previous month to 6.69 million units in January of 2021, beating market forecasts of 6.61 million continued to be supported by historically low mortgage rates and demand for bigger space. Year-on-year, sales jumped 23.7 percent, 107 straight months of gains. The median existing-home price was $303,900, up 14.1 percent from January 2020, as prices increased in every region. There were 1.04 million homes for sale at the end of January, a 26 percent drop from a year ago. At the current sales pace, there is now a 1.9-month supply, the lowest on record. “Home sales are continuing to play a part in propping up the economy. With additional stimulus likely to pass and several vaccines now available, the housing outlook looks solid for this year”, said Lawrence Yun, chief economist for the NAR.
2021-02-19
US Existing Home Sales Rebound
Sales of previously owned houses in the US increased 0.7% from the previous month to 6.76 million units in December of 2020, beating market forecasts of 6.55 million. The median existing-home price was $309,800, up 12.9% yoy. Total housing inventory totaled 1.07 million units, down 16.4% from November and down 23% from one year ago. Unsold inventory sits at an all-time low 1.9-month supply at the current sales pace. Considering full 2020, existing-home sales reached 5.64 million, the highest level since 2006. "This momentum is likely to carry into the new year, with more buyers expected to enter the market. Although mortgage rates are projected to increase, they will continue to hover near record lows at around 3%. Moreover, expect economic conditions to improve with additional stimulus forthcoming and vaccine distribution already underway", said Lawrence Yun, NAR's chief economist.
2021-01-22
US Existing Home Sales Fall More Than Expected
Sales of previously owned houses in the US fell 2.5% from the previous month's 15-year high to 6.69 million units in November of 2020, worse than market forecasts of a 1% drop as prices rose and supply declined. It was the first decline in 6 months as contract closings fell in the South, Midwest and Northeast and were flat in the West. Still, total sales rose 25.8% from a year ago. The median existing-home price was $310,800, 14.6% more than in November 2019. Also, housing inventory was down to a record low of 1.28 million, enough to last 2.3 months at the current sales pace (also a record low). "Circumstances are far from being back to the pre-pandemic normal. However, the latest stimulus package and with the vaccine distribution underway, and very strong demand for homeownership still prevalent, robust growth is forthcoming for 2021", said Lawrence Yun, NAR's chief economist.
2020-12-22

United States Existing Home Sales
Existing Home Sales occurs when the mortgage is closed. Mortgage closing usually takes place 30-60 days after the sales contract is closed.