Existing home sales in the US declined by 3.4% to a seasonally adjusted annual rate of 5.41 million in May of 2022, the lowest since June of 2020 and broadly in line with estimates. Sales went down for a fourth consecutive month as rising mortgage rates and decades-high inflation eat into household income. Total housing inventory registered 1,160,000 units, an increase of 12.6% from April and the median existing-home price for all housing types was $407,600, up 14.8% from May 2021. "Further sales declines should be expected in the upcoming months given housing affordability challenges from the sharp rise in mortgage rates this year," said Lawrence Yun, NAR's chief economist. source: National Association of Realtors
Existing Home Sales in the United States averaged 4058.70 Thousand from 1968 until 2022, 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 June of 2022.
Existing Home Sales in the United States is expected to be 5500.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Existing Home Sales is projected to trend around 5000.00 Thousand in 2023 and 4700.00 Thousand in 2024, according to our econometric models.