United States Existing Home Sales2021 Data | 2022 Forecast | 1968-2020 Historical

Existing-home sales in the US unexpectedly declined by 2% mom to 5.88 million in August of 2021, well below market forecasts of 5.89 million as prices grew further and supply remained tight. Each of the four major U.S. regions experienced declines on both a month-over-month and a year-over-year perspective, breaking a two-month streak of increases. The inventory of unsold homes decreased by 1.5% to 1.29 million from July to August – equivalent to 2.6 months of the monthly sales pace. Also, the median existing-home price for all housing types was $356,700, up 14.9% from August 2020, as prices increased in each region.

Existing home sales in the US were up 2% mom to 5.99 million in July of 2021, well above market forecasts of 5.83 million. 3e of the 4 major US regions recorded modest gains and the fourth remained level. Total housing inventory was 1.32 million units, up 7.3% from June's supply and down 12.0% from one year ago. Unsold inventory sits at a 2.6-month supply at the present sales pace, up slightly from the 2.5-month figure recorded in June. The median existing-home price for all housing types was $359,900, up 17.8% from July 2020, marking 113 straight months of year-over-year gains. "We see inventory beginning to tick up, which will lessen the intensity of multiple offers. Although we shouldn't expect to see home prices drop in the coming months, there is a chance that they will level off as inventory continues to gradually improve", said Lawrence Yun, NAR's chief economist.

Existing home sales in the US increased 1.4% mom to 5.86 million in June of 2021, the first rise in five months and compared to market forecasts of 5.9 million."Supply has modestly improved in recent months due to more housing starts and existing homeowners listing their homes, all of which has resulted in an uptick in sales. Home sales continue to run at a pace above the rate seen before the pandemic. At a broad level, home prices are in no danger of a decline due to tight inventory conditions, but I do expect prices to appreciate at a slower pace by the end of the year", said Lawrence Yun, NAR's chief economist. Sales were unchanged in the South but rose in the other three major regions of the US. Total housing inventory amounted to 1.25 million units, up 3.3% from May's inventory and down 18.8% from one year ago (1.54 million). The median existing-home price for all housing types was $363,300, up 23.4% from June 2020.

Existing home sales in the US fell for the 4th consecutive month to 5.8 million in May of 2021, compared to forecasts of 5.72 million. It is the lowest reading in 11 months, with only one major region recording a month-over-month increase, while the other three regions saw sales decline. The median existing-home price for all housing types was $350,300, up 23.6% from May 2020. Total housing inventory amounted to 1.23 million units, up 7.% from April and down 20.6% from one year ago. "Home sales fell moderately in May and are now approaching pre-pandemic activity. Lack of inventory continues to be the overwhelming factor holding back home sales, but falling affordability is simply squeezing some first-time buyers out of the market", Lawrence Yun, NAR's chief economist, said.