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.