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First-time buyers were responsible for 31% of sales in December; Individual investors purchased 16% of homes; All-cash sales accounted for 28% of transactions; Distressed sales represented 1% of sales; Properties typically remained on the market for 26 days. #NAREHS
The median existing-home price for all housing types in December was $366,900, an increase of 2.3% from December 2021 ($358,800), as prices rose in all regions. This marks 130 consecutive months of year-over-year increases, the longest-running streak on record. #NAREHS
"While rates have risen nearly every month from a year ago, they finally began moving down in the last couple of months of the year. How will rates start in 2023? Stay tuned."
"Half of the country may experience small price gains, while the other half may see slight price declines. However, markets in California may be the exception, with San Francisco, for example, likely to register price drops of 10–15%." - NAR's Lawrence Yun https://t.co/0ycrxyt882