US Home Resales Wrap Up Year With Strongest Pace Since 2023 (1)

US previously owned home sales climbed in December to the fastest pace since 2023, a welcome sign for a housing market that has lacked momentum for several years.

Contract closings rose 5.1% to a 4.35 million annualized pace last month, the highest since February 2023, according to figures released Wednesday by the National Association of Realtors. The pace exceeded all forecasts in a Bloomberg survey of economists.

Borrowing costs have been easing and price growth has slowed, helping to fuel home purchases in all major regions of the US. The median sales price increased 0.4% from a year earlier to ...