top of page
  • Metro East REIA

Lack of Inventory Sees 6.6% Drop in Existing-Home Sales

The National Association of Realtors is reporting that existing home sales were down 6.6% in February to a seasonally-adjusted annual rate of 6.22 million (up 9.1% from one year ago). Total housing inventory at the end of February was 1.03 million units, down 29.5% from one year ago. Unsold inventory sits at a 2-month supply at the current sales pace with properties remaining on the market for around 20 days. The median existing-home price for all housing types was $313,000, up 15.8% from February, 2020. Once again, you can guess it, low inventory continues to be the culprit: Continue reading HERE...

1 view0 comments

Recent Posts

See All

Rental information site Zumper recently released their latest monthly National Rent Report for November, 2023. According to their data, median rent for 1-bedroom apartments was $1,499 (down 0.4% from

The U.S. government is reporting that total construction spending in October, 2023 was at a seasonally adjusted annual rate of $2027.1 billion, which is 0.6% higher than September’s revised estimate a

The latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 3.9% annual change for September, 2023. Their 10-City Composite increased 4.8% and their 20-City Composite increase

bottom of page