Existing home sales rose for the second consecutive month, as January saw a seasonally-adjusted annual rate of 6.69 million purchases – up a robust 23.7% year-over-year. You can thank millennials for it.

Lawrence Yun, chief economist for the National Association of Realtors, said last month that he expected momentum to carry over from the end of 2020. He was right, as January’s numbers were up 0.6% from December.

A total of 5.64 million homes were sold in 2020, up 5.6% from 2019 and the most since before the Great Recession.

“Sales easily could have been details ⇒

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