January 2022 home sales are up 6.7% from December 2021 while the supply of homes has actually fallen by 16.% year-over-year. The median home price nationwide is now $350,300, representing a 15.4% year-over-year increase, with the bulk of the sales activity now happening at the higher-end of the market. Furthermore, homes are also selling faster, with an average days on market (DOM) of only 19 days in January 2022 compared to 21 days in January of 2021.