Real Estate

December home sales drop 4.6%, as supply hits record low

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A “Sold” sign stands outside a home following a snow fall in Geneseo, Illinois.

Daniel Acker | Bloomberg | Getty Images

Closed sales of previously owned homes in December fell 4.6% to a seasonally adjusted, annualized rate of 6.18 million units, according to the National Association of Realtors. Sales were down 7.1% year over year.

Still, December rounded out a year of strong sales, much of that fueled by the Covid pandemic and by the largest generation, millennials, aging into their homebuying years. Full-year 2021 sales came in at 6.12 million, an increase of 8.5% from 2020. It was the strongest sales year since 2006.

Sales could likely have been higher were it not for incredibly low…



Source cnbc.com

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