Existing-home sales in the United States fell in December, capping a soft year that saw demand make its sharpest drop in 24 years.

Home resales fell to a 6.22 million annual rate, a 0.8% decrease from November’s revised 6.27 million annual pace, the National Association of Realtors said Thursday. November’s rate was originally estimated at 6.28 million.

Sales for all of 2006 dropped by 8.4% to 6.48 million from a record 7.08 million in 2005. The drop was the sharpest since 17.7% in 1982.

The median home price was US$222,000 in December, compared with a revised US$217,000 in November and an unrevised US$222,000 in December 2005.

The decrease in resales interrupted back-to-back increases. Some analysts say declining prices and soft demand has discouraged some homeowners from selling.

The December resales level was below Wall Street expectations of a 6.25 million sales rate for previously owned homes.