December’s existing home sales came in at a seasonally adjusted annual rate of 4.35 million, above market expectations of 4.21 million, representing a 5.1% increase from November. Compared to December 2024, sales were 1.4% higher. Total housing inventory is down 18.1% from November but increased 3.5% from December 2024. The median home price decreased from $410,000 in November to $405,400.
ABA’s Office of the Chief Economist views the continued improvement in existing home sales as being supported by a slight dip in mortgage rates. However, home sales remain historically low. Further downward movement of mortgage rates could result in increased originations and encourage refinancing activity.










