Existing-Home Sales Drop 1.5% in December

The National Association of Realtors is reporting that existing home sales were down 1,5% in December to a seasonally-adjusted annual rate of 4.02 million (down 34% year over year). Total housing inventory at the end of December was 970k units, down 13.4% from November but was up 10.2% from one year ago. Unsold inventory sits at a 2.9-month supply at the current sales rate with properties remaining on the market for around 26 days. Continue reading HERE...