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Highest Home Sales in 14 Years

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From the National Association of Realtors: here is a snapshot of December 2020 existing home sales! It’s the highest home sales in 14 years! Can’t wait to see January’s numbers! If you can believe it, we are one month into 2021!

Existing-home sales rose in December, with home sales in 2020 reaching their highest level since 2006, according to the National Association of Realtors®. Activity in the major regions was mixed on a month-over-month basis, but each of the four areas recorded double-digit year-over-year growth in December.

Other interesting points to Note!

–Total existing-home sales increased 0.7% from November to a seasonally-adjusted annual rate of 6.76 million in December.

–Sales in total rose year-over-year, up 22.2% from a year ago (5.53 million in December 2019).

–Despite the pandemic, home sales rose in December and for 2020. As a whole, we saw sales perform at their highest levels since 2006

–Mortgage rates are projected to increase and they will continue to hover near record lows at around 3%

–The median existing-home price for all housing types in December was up 12.9% from December 2019

— December’s national price increase marks 106 straight months of year-over-year gains.

–Unsold inventory sits at an all-time low 1.9-month supply at the current sales pace. That’s down from 2.3 months in November and down from the 3.0-month figure recorded in December 2019.

As you can see, the data is in for existing home sales for December! It’s the highest home sales in 14 years and this is fantastic! Let’s hope this will lend itself to another fantastic set of data for January! It’s looking like a great start for home sales in Flower Mound and surrounding areas in 2021!

I am planning to let you know the latest trends in new home building and other related topics in my blog, so keep checking back for quick reads!

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Beth Brake REALTOR®

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