Sales of previously occupied U.S. homes rose again last month, a sign that the housing market’s strong momentum from 2020 may be carrying over into this year.
Existing U.S. home sales rose 0.6% in January from the previous month to a seasonally-adjusted rate of 6.69 million annualized units, the National Association of Realtors said Friday.
Sales rose 23.7% from a year earlier. It was the strongest sales pace since October. Home prices also rose. The U.S. median home price was $303,900 in January, an increase of 14.1% from a year earlier.
The red-hot housing market has left the number of available properties for sale at record lows, which has contributed to sharp increases in prices.