Existing-home sales slid 4.9% in January to a seasonally adjusted annual rate of 4.08 million. However, sales rose 2.0% from one year ago, the fourth straight monthly year-over-year increase. The median existing-home sales price advanced 4.8% from January 2024 to $396,900, the 19th consecutive month of year-over-year price increases.

Existing home sales declined in 2024 to the lowest level since 1995, while median home prices rose to a record high as elevated mortgage rates confound the market.

Sales of existing homes slipped 4.9% in January, but year-over-year sales were up 2% as high prices and mortgage rates keep some potential buyers on the

The median existing-home sales price advanced 4.8% from January 2024 to $396,900, the 19th consecutive month of year-over-year price increases, NAR said.

Sales of previously occupied U.S. homes fell in January as rising mortgage rates and prices put off many would-be homebuyers despite a wider selection of properties on the market. Sales fell 4.9% last month from December to a seasonally adjusted annual rate of 4.

Existing home sales in the US dropped more than projected in January amid elevated mortgage rates and house prices, according to data released Friday by the National Association of Realtors. Existing home sales decreased 4.