U.S. existing-home sales fell in December for an 11th consecutive month
The numbers: U.S. existing-home sales fell 1.5% to a seasonally adjusted annual rate of 4.02 million in December, the National Association of Realtors said Friday.
Economists polled by the Wall Street Journal were expecting existing-home sales to drop to 3.95 million. Homes remained on the market for 26 days on average, up from 24 days in November. Pre-pandemic, the average time for homes to remain on the market was a month. All-cash transactions made up 28% of all transactions. About 31% of homes were sold to first-time home buyers, up from the previous month.
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