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Existing Home Sales Up 6.7% in January

The National Association of Realtors is reporting that existing home sales were up 6.7% in January to a seasonally-adjusted annual rate of 6.50 million (down 2.3% from one year ago). Total housing inventory at the end of January was 860k units, down 16.5% from one year ago. Unsold inventory sits at a 1.6-month supply at the current sales rate with properties remaining on the market for around 19 days. The median existing-home price for all housing types in January was $350,300, which was up 15.4% from one year ago. Continue reading HERE...

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