– National Market Update –
January 2023 brought 4.00 million in sales, a median sales price of $359,000, and 2.9 months of inventory. The median sales price is up 1.3% year-over-year, and inventory was up 1.6 months from January 2022.- Existing-home sales waned for the twelfth consecutive month to a seasonally adjusted annual rate of 4.00 million. Sales slipped 0.7% from December 2022 and 36.9% from the previous year.- The median existing-home sales price increased 1.3% from one year ago to $359,000.- The inventory of unsold existing homes grew from the prior month to 980,000 at the end of January, or the equivalent of 2.9 months’ supply at the current monthly sales pace.
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