Existing-Home Sales Rose 3.1% in January

Key Highlights

• Existing home sales expanded 3.1% in January to a seasonally adjusted annual rate of 4.00 million. Sales declined 1.7% from the prior year.
• The median existing-home sales price climbed 5.1% from January 2023 to $379,100 – the seventh consecutive month of year-over-year price gains.
• The inventory of unsold existing homes increased 2.0% from one month ago to 1.01 million at the end of January, or the equivalent of 3.0 months' supply at the current monthly sales pace.