By Nicole FriedmanSales of previously owned homes in 2023 dropped to the lowest level in 28 years, as home-buying affordability worsened and the supply of homes for sale remained low. Existing home sales, which make up most of the housing market, slid 19% in 2023 from the prior year to 4.09 million, the lowest full-year level since 1995, the National Association of Realtors said Friday. On a monthly basis, sales fell 1% in December from the prior month to a seasonally adjusted annual rate of 3.78 million, the lowest monthly rate since August 2010. December sales fell 6.2% from a year earlier. Write to Nicole Friedman at nicole.friedman@wsj.com(END) Dow Jones NewswiresJanuary 19, 2024 10:24 ET (15:24 GMT)Copyright (c) 2024 Dow Jones & Company, Inc.

Source: Wall Street Journal January 19, 2024 15:35 UTC