It’s a Wrap: 2020 Existing-Home Sales Hit New Highs

The National Association of Realtors (NAR) reported on Jan. 22 that 5.64 million existing homes were sold in 2020, a 5.6% jump from 2019 and the most since 2006, when a housing boom was about to bust and the Great Recession would follow. Time on market also plummeted, to 21 days in December from 41 days in December 2019, the NAR says, adding that 70% of homes sold last month were on the market for less than 30 days.