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US – Dec Existing Home Sales
25/01/2023 08:00 am MYT
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Existing home sales fell for the eleventh straight month in Dec, down 1.5% month-on-month and 34.0% year-on-year to a seasonally adjusted annual rate (SAAR) of 4.02 mln units (figure 1). First-time home buyers accounted for 31% of sales in Dec, slightly higher than 30% in Dec 2021. The median existing-home price rose 2.3% from a year ago, for the 130th straight month, to US$366,900.

 

The single-family homes sales were down 1.1% month-on-month and 33.5% year-on-year to a SAAR of 3.60 mln units in Dec. The median existing single-family home price rose 2.0% year-on-year to US$372,700.

 

Meanwhile, existing condominium and co-op homes sales were at a SAAR of 420,000 units in Dec, down 4.5% month-on-month and 38.2% year-on-year. The median existing condominium price was US$317,200 in Dec, up 3.3% year-on-year.

 

Total housing inventory plunged by 13.4% month-on-month, but expanded by 10.2% year-on-year to 0.97 mln units, which represents a supply of 2.9 months at the current monthly sales pace.



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Note from Publisher
Despite being a multi-racial, multi-cultural, and multi-religious society, Malaysia has largely been a peaceful country. This is a great achievement in light of a world that is being ravaged by multiple conflicts. Unfortunately, certain individuals and groups have hated this precious social fabric of the country and are making every effort to tear it apart. People say “you never know what you have until you lose it”. We really hope these selfish and irresponsible people will come to their senses before it is too late.

Nevertheless, it is heartening to see that the Malaysian media and civil society organisations have collectively launched a campaign called “Maaf Zahir Batin Hari Hari” or known as #MZB365 to help heal a dividing Malaysia. Carrying the meaning of “please forgive my wrongs, both thoughts and deeds”, the campaign will run for one whole year. This initiative could not have come at a better time. We believe the majority of Malaysians still treasure the country’s unique social fabric. With #MZB365, hopefully the silent majority can have a bigger voice to counter the destructive noises of the divisive minority.
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