Fewer homes than ever were for sale in December, driving seasonally adjusted home sales down 3.6%, according to a new report from Redfin. This marks the largest month-over-month sales decline since May 2020. Home prices surged 15% from a year earlier, the 17th consecutive month of double-digit increases.
“Home sales are slumping, but not for lack of demand,” observes Daryl Fairweather, Redfin’s chief economist. “There are plenty of homebuyers on the hunt, but there