HAR Report: For the month of December, single-family home sales dropped 32.6 percent. That marks the ninth straight monthly decline of 2022 and the steepest. Sales volume fell in all segments of the market, with the greatest drop, 42.8 percent, among homes priced between $150,000 and $250,000. That was followed by the $1M and above segment, which saw a 34.8 percent year-over-year decline.
The median price of a single-family home – the figure at which half of the homes sold for more and half sold for less – was $330,000 in December. That is the third straight month it has held at that level and is 3.8 percent higher than last December. The average price of $409,777 was up 5.1 percent compared to last year.