• Sign In
  • Create Account
  • Sign Out
  • My Account
  • NEWS
  • PRODUCTS
  • A&D
  • INSTALLATION
  • MARKETS
  • AWARDS
  • EDUCATION
  • BUYER'S GUIDE
  • MEDIA
  • EMAGAZINE
  • SIGN UP
cart
facebook twitter linkedin youtube
  • NEWS
  • Breaking Flooring News
  • eNewsletters
  • PRODUCTS
  • Carpet & Area Rugs
  • Hardwood
  • Installation Products
  • Installation Tools & Equipment
  • Laminate
  • Resilient
  • Specialty
  • Tile & Stone
  • MARKETS
  • Commercial
  • Residential
  • AWARDS
  • Installation Awards
  • Top Flooring Products
  • EDUCATION
  • Continuing Education
  • Webinars
  • Sponsored Insights
  • MEDIA
  • FLOOR Podcast
  • Videos
  • TISE 2025 Videos
  • eBooks
  • EMAGAZINE
  • eMagazine
  • Archive Issues
  • Contact
  • Advertise
search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
  • NEWS
    • Breaking Flooring News
    • eNewsletters
  • PRODUCTS
    • Carpet & Area Rugs
    • Hardwood
    • Installation Products
    • Installation Tools & Equipment
    • Laminate
    • Resilient
    • Specialty
    • Tile & Stone
  • A&D
  • INSTALLATION
  • MARKETS
    • Commercial
    • Residential
  • AWARDS
    • Installation Awards
    • Top Flooring Products
  • EDUCATION
    • Continuing Education
    • Webinars
    • Sponsored Insights
  • BUYER'S GUIDE
  • MEDIA
    • FLOOR Podcast
    • Videos
    • TISE 2025 Videos
    • eBooks
  • EMAGAZINE
    • eMagazine
    • Archive Issues
    • Contact
    • Advertise
  • SIGN UP
Breaking Flooring News

January existing-home sales down, but still historically high

February 25, 2004
Sales of existing single-family homes were down in January from near-record highs but the pace of transactions remains exceptionally strong on a historical basis, according to the National Association of Realtors (NAR).

The NAR reported that existing-home sales declined 5.2 percent in January to a seasonally adjusted annual rate of 6.04 million units from a downwardly revised level of 6.37 million in December, which was the third-highest pace on record. Last month's sales activity was 2.0 percent above the 5.92 million-unit pace of January 2003. The all-time record of 6.68 million sales was set in September 2003.

David Lereah, NAR's chief economist, said monthly changes at this volume of home sales are relative. "We have to keep in mind that the level of home-sales activity over the last six months has been the strongest on record," he said. "The January pace was the sixth-highest ever and is above the total forecast for this year. We can expect month-to-month ups and downs, but the long-term trend is for home sales to stay close to record territory this year.

"Given the high level of sales in January, it's hard to read much into a monthly decline. However, unusually bad weather in much of the country may have postponed some sales," Lereah said.

"Strong household formation and an improving economy create housing demand," added NAR President Walt McDonald. "The continuing low level of mortgage interest rates is icing on the cake for the housing market."

Housing inventory levels declined 4.3 percent at the end of January with 2.20 million existing homes available for sale. This represents a 4.4-month supply at the current sales pace.

Regionally, existing-home sales in the South rose 2.0 percent from December to an annual rate of 2.60 million units in January, and were 6.1 percent higher than a year ago. The median price of an existing home in the South was $155,500, which was percent 4.3 higher than January 2003.

The home resale pace in the West declined 5.7 percent to an annual rate of 1.64 million units in January. However, the pace was 4.5 percent stronger than January 2003. The median existing-home price in the West was $234,500, up 7.9 percent from the same month a year earlier.

In the Northeast, existing-home sales fell 12.5 percent from December to a pace of 630,000 units in January, and were 6.0 percent below the level in January 2003. The median existing-home price in the Northeast was $212,300, up 17.2 percent from a year ago.

Homes in the Midwest were reselling at an annual rate of 1.18 million units in January, down 13.2 percent from December, and were 3.3 percent below January 2003. The median price in the Midwest was $134,300, up 1.5 percent from a year earlier.

Share This Story

Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!

Recommended Content

JOIN TODAY
To unlock your recommendations.

Already have an account? Sign In

  • resilient flooring

    The 7 Types of Resilient Flooring

    The resilient flooring category is comprised of many...
    Resilient Flooring
    By: Resilient Floorcovering Institute
  • QuickDrain USA’s ShowerLine linear drain

    Tips for Curbless Shower Installation Using a Linear Drain

    Consider these four tips when planning for a curbless...
    Installation How-To
    By: Darryl Jones
  • 2024 New Flooring Product Guide

    2024 New Flooring Products Guide

    We explore this year's introductions in area rugs,...
    Residential Flooring
    By: FLOOR Trends & Installation Editors
You must login or register in order to post a comment.

Report Abusive Comment

Manage My Account
  • eMagazine
  • eNewsletter
  • Online Registration
  • Manage My Preferences
  • Subscription Customer Service

SolidTech R: Sustainable, High-Performance Flooring from Bottle to Floor

SolidTech R: Sustainable, High-Performance Flooring from Bottle to Floor

Retailers Share Top Takeaways from Shaw Flooring Network Convention

Retailers Share Top Takeaways from Shaw Flooring Network Convention

Shaw Flooring Network Retailers Report Post-Election Sales Surge

Shaw Flooring Network Retailers Report Post-Election Sales Surge

What Shaw Flooring Network Dealers are Banking on for 2025

What Shaw Flooring Network Dealers are Banking on for 2025

More Videos

Sponsored Content

Sponsored Content is a special paid section where industry companies provide high quality, objective, non-commercial content around topics of interest to the FLOOR Trends & Installation audience. All Sponsored Content is supplied by the advertising company and any opinions expressed in this article are those of the author and not necessarily reflect the views of FLOOR Trends & Installation or its parent company, BNP Media. Interested in participating in our Sponsored Content section? Contact your local rep!

close
  • Woodura Herringbone 2.0
    Sponsored byBjelin

    The Herringbone Floor of the Future

Popular Stories

Woodura Herringbone 2.0

The Herringbone Floor of the Future

company branding

Branding and Marketing Strategies for Flooring Contractors

Three individuals, a man and two women, discussing flooring options while reviewing samples.

Humans in the Loop: Why AI in Your Flooring Business Still Needs You


Download the Free Moisture Meters Guide

Events

December 1, 2030

Webinar Sponsorship Information

For webinar sponsorship information, visit www.bnpevents.com/webinars or email webinars@bnpmedia.com.

View All Submit An Event

Poll

Growth Challenges in the Flooring Industry

What’s holding you back from growth in 2025?
View Results Poll Archive

Products

2025 BNI Interiors Square Foot Costbook

2025 BNI Interiors Square Foot Costbook

See More Products

FLOORtalk podcasts - Listen Now

Related Articles

  • February existing home sales drop, but still post second best month on record

    See More
  • Housing market

    September existing-home sales down but prices continue to improve

    See More
  • August existing-home sales slip but remain strong, according to NAR

    See More
×

We’re rolling out the red carpet of flooring knowledge!

Stay in the know on the latest flooring retail trends.

JOIN TODAY!
  • RESOURCES
    • Advertise
    • Contact Us
    • Directories
    • Store
    • Want More
  • SIGN UP TODAY
    • Create Account
    • eMagazine
    • eNewsletters
    • Customer Service
    • Manage Preferences
  • SERVICES
    • Marketing Services
    • Reprints
    • Market Research
    • List Rental
    • Survey/Respondent Access
  • STAY CONNECTED
    • LinkedIn
    • Facebook
    • Instagram
    • YouTube
    • X (Twitter)
  • PRIVACY
    • PRIVACY POLICY
    • TERMS & CONDITIONS
    • DO NOT SELL MY PERSONAL INFORMATION
    • PRIVACY REQUEST
    • ACCESSIBILITY

Copyright ©2025. All Rights Reserved BNP Media.

Design, CMS, Hosting & Web Development :: ePublishing

search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
  • NEWS
    • Breaking Flooring News
    • eNewsletters
  • PRODUCTS
    • Carpet & Area Rugs
    • Hardwood
    • Installation Products
    • Installation Tools & Equipment
    • Laminate
    • Resilient
    • Specialty
    • Tile & Stone
  • A&D
  • INSTALLATION
  • MARKETS
    • Commercial
    • Residential
  • AWARDS
    • Installation Awards
    • Top Flooring Products
  • EDUCATION
    • Continuing Education
    • Webinars
    • Sponsored Insights
  • BUYER'S GUIDE
  • MEDIA
    • FLOOR Podcast
    • Videos
    • TISE 2025 Videos
    • eBooks
  • EMAGAZINE
    • eMagazine
    • Archive Issues
    • Contact
    • Advertise
  • SIGN UP