Today, in the Real Estate Newsletter: Existing-Home Sales Increased to 6.46 million in November
Excerpt: This graph shows existing home sales by month for 2020 and 2021.
This was the fourth consecutive month with sales down year-over-year. Sales will likely be down YoY in December and probably in January 2022 too since were exceptionally strong last Winter.
[and on inventory] Months-of-supply at 2.1 months is very low, but still above the record low of 1.9 months set in December 2020 and January 2021. That record will be tested next month.
We will probably see inventory at a new record low over the Winter. Inventory is currently at 1.11 million (according to the NAR), and the record low was 1.03 million in January and February of 2021.You can subscribe at https://calculatedrisk.substack.com/ (Currently all content is available for free, but please subscribe).