CNBC Television Existing home sales climb 0.7% in December 2020

🎯 Загружено автоматически через бота: 🚫 Оригинал видео: 📺 Данное видео принадлежит каналу «CNBC Television» (@CNBCtelevision). Оно представлено в нашем сообществе исключительно в информационных, научных, образовательных или культурных целях. Наше сообщество не утверждает никаких прав на данное видео. Пожалуйста, поддержите автора, посетив его оригинальный канал. ✉️ Если у вас есть претензии к авторским правам на данное видео, пожалуйста, свяжитесь с нами по почте support@, и мы немедленно удалим его. 📃 Оригинальное описание: CNBC’s Diana Olick reports on the last batch existing home sales data from 2020. For access to live and exclusive video from CNBC subscribe to CNBC PRO: Pandemic-driven demand sent total 2020 home sales to the highest level since 2006. Still, even the most avid buyers are bumping up against barriers in today’s housing market. Record low supply and record high prices are limiting the exceptionally high demand. Closed sales of existing homes in December increased just 0.7% from November to a seasonally adjusted annualized rate of million units, according to the National Association of Realtors. Sales were 22% stronger than in December 2019. As unexpected as a global pandemic was, so too was the reaction of homebuyers. After plummeting in March and April, sales suddenly began to climb. Total year-end sales volume ended at million units, the highest level since 2006 and far stronger than predicted before the pandemic. Buyers were driven by a desire for larger, suburban homes with dedicated spaces for working and schooling. “Home sales could possibly reach 8 million if we had more inventory,” said Lawrence Yun, chief economist for the Realtors. “Mortgage rates should remain very low throughout 2021, although we may have seen the lowest already.” Strong demand exacerbated what was already low inventory of homes for sale at the start of the year. At the end of December, inventory stood at just million homes for sale, down 23% year over year. At the current sales place, that represents a supply. That is the lowest number of homes since the Realtors began tracking this metric in 1982. Low supply and strong demand continued to raise the heat under home prices. The median price of an existing home sold in December was $309,800, a 12.9% increase compared with December 2019 and the highest December median price on record. Part of the sharp increase in the median price is that home sales are stronger on the higher end of the market, where there is more supply. Sales of homes priced below $100,000 were down 15% annually in December, while sales of homes priced between $500,000 and $750,000 were up 65% annually. Sales of million-dollar-plus homes were up 94% from one year ago. Steep competition for homes also has more buyers making all-cash offers. First-time buyers made up 31% of sales. They usually make up about 40% historically. It also took just 21 days on average to sell a home in December. “It is unusual, because every year during the holiday season we would see days on market increase, but not this year,” said Yun. » Subscribe to CNBC TV: » Subscribe to CNBC: » Subscribe to CNBC Classic: Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: Connect with CNBC News Online Get the latest news: Follow CNBC on LinkedIn: Follow CNBC News on Facebook: Follow CNBC News on Twitter: Follow CNBC News on Instagram: #CNBC #CNBCTV