Much of the year-over-year increase in home sales was supported by continued robust activity in the Southeast, which saw a 20.2% rise to an annual rate of 458,000 transactions.

Eighty-eight percent of all homebuyers said they used an agent as a source of information during their search, and 91% of millennials age 22 to 30 said the same.

“More jobs are very likely, due to the near certain passage of the $1.9 trillion stimulus package and from two million vaccinations per day,” National Association of Realtors chief economist Lawrence Yun said in a release.

The stimulus bill includes aid for state and local governments, new homeowners, small businesses and renters.

The House of Representatives has approved the Equality Act, which establishes legal safeguards to prevent discrimination in housing based on sexual orientation.

The all-time high for January comes as limited supply cut pending transactions on a monthly basis, the association said.

The National Association of Real Estate Brokers has joined the RE/MAX Strategic Alliances program to help grow homeownership among minority groups.

The National Association of Home Builders (NAHB) opposes the change because it would raise taxes on the multifamily housing industry and on real estate investment partnerships.

After declining for years, the size of new single-family homes has begun to level off as consumers spend more time at home, a National Association of Home Builders analysis found.

NAR put together its “Snapshot of Race and Home Buying in America” report to study the hurdles that persistently block minorities from owning homes.

The top reason why long-time searchers have not purchased a home is because 40% say they were outbid.