Existing home sales in the US tumbled 5.9% to a seasonally adjusted annual rate of 4.43 million in October of 2022, the lowest since December of 2011 with the exception of a very brief fall at the beginning of the pandemic, and compared to the market forecasts of 4.38 million. It was the ninth straight month of falling sales as home prices remained elevated and a 30-year fixed mortgage rate hit a 20-year high pushing many buyers out of the market. "More potential homebuyers were squeezed out from qualifying for a mortgage in October as mortgage rates climbed higher. The impact is greater in expensive areas of the country and in markets that witnessed significant home price gains in recent years", said NAR Chief Economist Yun. Meanwhile, the total housing inventory fell 0.8% to 1.22 million units. The median existing-home price for all housing types was $379,100, up 6.6% from October 2021. Properties typically remained on the market for 21 days in October, up from 19 days in September. source: National Association of Realtors

Existing Home Sales in the United States averaged 4064.10 Thousand from 1968 until 2022, reaching an all time high of 7250.00 Thousand in September of 2005 and a record low of 1370.00 Thousand in March of 1970. This page provides the latest reported value for - United States Existing Home Sales - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Existing Home Sales - data, historical chart, forecasts and calendar of releases - was last updated on December of 2022.

Existing Home Sales in the United States is expected to be 4350.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Existing Home Sales is projected to trend around 5000.00 Thousand in 2023 and 4700.00 Thousand in 2024, according to our econometric models.

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United States Existing Home Sales



Calendar GMT Actual Previous Consensus TEForecast
2022-10-20 02:00 PM Sep 4.71M 4.78M 4.7M 4.7M
2022-11-18 03:00 PM Oct 4.43M 4.71M 4.38M 4.3M
2022-12-21 03:00 PM Nov 4.43M 4.3M


Related Last Previous Unit Reference
Building Permits 1512.00 1564.00 Thousand Oct 2022
Housing Starts 1425.00 1488.00 Thousand units Oct 2022
Pending Home Sales -37.00 -31.00 percent Oct 2022
Existing Home Sales 4430.00 4710.00 Thousand Oct 2022
Housing Index 392.30 392.00 points Sep 2022
Mortgage Rate 6.41 6.49 percent Dec 2022
Pending Home Sales MoM -4.60 -8.70 percent Oct 2022
Total Housing Inventory 1220.00 1250.00 Thousands Oct 2022
Existing Home Sales MoM -5.90 -1.50 percent Oct 2022
House Price Index YoY 11.00 11.90 percent Sep 2022
Single Family Home Prices 379100.00 384800.00 USD Oct 2022

United States Existing Home Sales
In the United States, Existing Home Sales occur when the mortgages are closed. Mortgage closing usually takes place 30-60 days after the sales contract is closed.
Actual Previous Highest Lowest Dates Unit Frequency
4430.00 4710.00 7250.00 1370.00 1968 - 2022 Thousand Monthly
SA

News Stream
US Existing Home Sales Lowest since 2011
Existing home sales in the US tumbled 5.9% to a seasonally adjusted annual rate of 4.43 million in October of 2022, the lowest since December of 2011 with the exception of a very brief fall at the beginning of the pandemic, and compared to the market forecasts of 4.38 million. It was the ninth straight month of falling sales as home prices remained elevated and a 30-year fixed mortgage rate hit a 20-year high pushing many buyers out of the market. "More potential homebuyers were squeezed out from qualifying for a mortgage in October as mortgage rates climbed higher. The impact is greater in expensive areas of the country and in markets that witnessed significant home price gains in recent years", said NAR Chief Economist Yun. Meanwhile, the total housing inventory fell 0.8% to 1.22 million units. The median existing-home price for all housing types was $379,100, up 6.6% from October 2021. Properties typically remained on the market for 21 days in October, up from 19 days in September.
2022-11-18
US Existing Home Sales Fall for 8th Month
Existing home sales in the US fell 1.5% to a seasonally adjusted annual rate of 4.71 million in September of 2022, the lowest since May 2020 and almost in line with expectations. It was the eighth consecutive monthly decline in sales as mortgage rates continued to rise and prices remain elevated making it impossible for many buyers to afford houses. On a regional basis, sales fell in the Northeast (-1.6%), Midwest (-1.7%) and South (-1.9%) and were unchanged in the West. The median existing-home sales price rose 8.4% from one year ago to $384,800. The inventory of unsold existing homes declined for the second straight month to 1.25 million by the end of September, or the equivalent of 3.2 months' supply at the current monthly sales pace.
2022-10-20
US Existing Home Sales Fall for 7th Month
Existing home sales in the US edged 0.4% lower to a seasonally adjusted annual rate of 4.8 million in August of 2022, the lowest reading since May of 2020, and following a downwardly revised 5.7% drop in July. It marks the seventh consecutive month of falls in existing home sales, reflecting this year’s escalating mortgage rates. Figures compare with market forecasts of 4.7 million. The median existing-home sales price rose 7.7% from one year ago to $389,500. After five successive monthly increases, the inventory of unsold existing homes dwindled to 1.28 million, or the equivalent of 3.2 months at the current monthly sales pace. Sales rose in the Northeast (1.6%) and the West (1.1%), but were unchanged in the South and fell 3.3% in the Midwest.
2022-09-21