December home sales jump as inventory stays tight at year’s end

December’s seasonally adjusted annualized sales rate rose to 4.35 million, up 5.1% from November and 1.4% year over year, with the full year totaling 4.06 million (unchanged from 2024). Inventory fell to 1.18 million (about 3.3 months’ supply), helping the median price rise 0.4% to $405,400—the 30th straight annual gain. December was the strongest in nearly three years after seasonal adjustment, aided by mortgage rates hovering around 6.2–6.3% during closings. Analysts note Q4 improvement amid easing rates and expect more listings to come in February.