DWELLING DECLINE

December existing home sales rose 2.2% M-o-M and 9.2% Y-o-Y, the third straight month of rising Y-o-Y sales after declining Y-o-Y for over three straight years. However, 2024 existing home sales fell to their lowest level since 1995, when the population was 70 million smaller, and 2024 was the second straight year of dismal activity. In 2025 sales should rise 5% and dollar volume 10% as home prices continue rising.