Sales of previously owned houses in the US unexpectedly jumped 4.3% from the previous month to 6.85 million units in October of 2020, beating market forecasts of a 1.2 percent drop to 6.45 million. It is the highest reading since November of 2005, amid record-low interest rates and as sales of suburban homes remain strong as people try to move away from the big cities due to the coronavirus pandemic. The median existing-home price was $313,000, almost 16% more than in October of 2019. Total housing inventory declined from the prior month and one year ago to 1.42 million, enough to last 2.5 months - a record low - at the current sales pace. "With news that a COVID-19 vaccine will soon be available, and with mortgage rates projected to hover around 3% in 2021, I expect the market's growth to continue into 2021", said Lawrence Yun, NAR's chief economist. Yun forecasts existing-home sales to rise by 10% to 6 million in 2021. source: National Association of Realtors

Existing Home Sales in the United States averaged 3997.92 Thousand from 1968 until 2020, reaching an all time high of 7250 Thousand in September of 2005 and a record low of 1370 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 2020.

Existing Home Sales in the United States is expected to be 6500.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Existing Home Sales in the United States to stand at 5900.00 in 12 months time. In the long-term, the United States Existing Home Sales is projected to trend around 5200.00 Thousand in 2021 and 4700.00 Thousand in 2022, according to our econometric models.

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United States Existing Home Sales

Actual Previous Highest Lowest Dates Unit Frequency
6850.00 6570.00 7250.00 1370.00 1968 - 2020 Thousand Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-10-22 02:00 PM Existing Home Sales MoM Sep 9.4% 2% 5% 3%
2020-10-22 02:00 PM Existing Home Sales Sep 6.54M 5.98M 6.3M 6.2M
2020-11-19 03:00 PM Existing Home Sales MoM Oct 4.3% 9.9% -1.2% -1.4%
2020-11-19 03:00 PM Existing Home Sales Oct 6.85M 6.57M 6.45M 6.45M
2020-12-22 03:00 PM Existing Home Sales Nov 6.85M 6.7M 6.71M
2020-12-22 03:00 PM Existing Home Sales MoM Nov 4.3% -1% -2%
2021-01-22 03:00 PM Existing Home Sales Dec 6.82M
2021-01-22 03:00 PM Existing Home Sales MoM Dec


News Stream
US Existing Home Sales Surprise on the Upside
Sales of previously owned houses in the US unexpectedly jumped 4.3% from the previous month to 6.85 million units in October of 2020, beating market forecasts of a 1.2 percent drop to 6.45 million. It is the highest reading since November of 2005, amid record-low interest rates and as sales of suburban homes remain strong as people try to move away from the big cities due to the coronavirus pandemic. The median existing-home price was $313,000, almost 16% more than in October of 2019. Total housing inventory declined from the prior month and one year ago to 1.42 million, enough to last 2.5 months - a record low - at the current sales pace. "With news that a COVID-19 vaccine will soon be available, and with mortgage rates projected to hover around 3% in 2021, I expect the market's growth to continue into 2021", said Lawrence Yun, NAR's chief economist. Yun forecasts existing-home sales to rise by 10% to 6 million in 2021.
2020-11-19
US Existing Home Sales Highest since May of 2006
Sales of previously owned houses in the US jumped 9.4% from the previous month to 6.54 million units in September of 2020, the most since May of 2006 and above market expectations of 6.3 million. It was the fourth consecutive month of gains amid record-low interest rates and as people try to move away from the big cities as they have more flexible work arrangements due to the coronavirus pandemic. Each of the four major regions witnessed increases, with the Northeast seeing the highest climb. Sales in vacation destination counties have seen a strong acceleration since July, with a 34 percent year-over-year gain in September. There were 1.47 million previously owned homes on the market, the lowest ever since records begun in 1982 and down 19.2 percent from the previous year. The median existing house price jumped 14.8 percent compared to September of 2019 to a record USD 311,800.
2020-10-22
US Existing Home Sales Highest in 14 Years
Sales of previously owned houses in the US increased 2.4% from the previous month to a seasonally adjusted annual rate of 6 million units in August of 2020. That is the highest reading since December of 2006 and in line with expectations. Single family sales went up 1.7% and those of condos 8.6%. Home sales have climbed in every region for the third straight month. There were 1.49 million previously owned homes on the market in August, down from 1.83 million a year ago. The median existing house price increased to a record USD 310,600. Year-on-year, existing home sales went up 10.5%. "Home sales continue to amaze, and there are plenty of buyers in the pipeline ready to enter the market. Further gains in sales are likely for the remainder of the year, with mortgage rates hovering around 3% and with continued job recovery. The need for housing will grow even further, especially in areas that are attractive to those who can work from home", Lawrence Yun, NAR’s chief economist said.
2020-09-22
US Existing Home Sales Highest since 2006
Sales of previously owned houses in the US jumped 24.7 percent from the previous month to a seasonally adjusted annual rate of 5.86 million units in July of 2020. That was a new record increase in existing home sales, bringing the total to the highest since December of 2006 amid low interest rates. Single family sales went up 23.9 percent and those of condos 31.8 percent. Each of the four major regions attained double-digit increases. There were 1.5 million previously owned homes on the market in July, down from 1.9 million a year ago. The median existing house price increased to a record USD 304,100. Year-on-year, existing home sales went up 8.7 percent. “With the sizable shift in remote work, current homeowners are looking for larger homes and this will lead to a secondary level of demand even into 2021”, Lawrence Yun, NAR’s chief economist said.
2020-08-21

United States Existing Home Sales
Existing Home Sales occurs when the mortgage is closed. Mortgage closing usually takes place 30-60 days after the sales contract is closed. .