The December 2021 U.S. national housing indicators showed overall housing market activity improvement. However, the total number of unsold homes nationwide is down 16.1% from December 2020. This is a minor improvement from November’s 16.2% decline as the inventory share of listings in pending status increased slightly, a sign that buyers are active even with fewer options from which to choose.

Mortgage Bankers Association estimates that mortgage lenders issued $1.61 trillion in purchase loans in 2021, which is up slightly from $1.48 trillion in 2020. Looming interest rate hikes have prompted homebuyers to lock in mortgage rates during what is typically a slower time of the year.