• NAR: Existing-Home Sales Increased to 6.69 million in January

    12 days ago - By Calculated Risk

    From the NAR: Existing-Home Sales Tick Up 0.6% in January
    Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 0.6% from December to a seasonally-adjusted annual rate of 6.69 million in January. Sales in total climbed year-over-year, up 23.7% from a year ago .
    Total housing inventory at the end of January amounted to 1.04 million units, down 1.9% from December and down 25.7% from one year ago. Unsold inventory sits at a 1.9-month supply at the current sales pace, equal to December's supply and down from the...
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  • Comments on January Existing Home Sales

    Comments on January Existing Home Sales

    12 days ago - By Calculated Risk

    Earlier: NAR: Existing-Home Sales Increased to 6.69 million in January
    A few key points:
    1) This was the highest sales rate for January since 2005, and the 2nd highest sales for January on record. Some of the increase over the last seven months was probably related to pent up demand from the shutdowns in March and April. Other reasons include record low mortgage rates, a move away from multi-family rentals, strong second home buying , a strong stock market and favorable demographics .
    The delay in the buying season has pushed the seasonally adjusted number to very high levels. For example...
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  • US existing home sales, median price rose in January

    US existing home sales, median price rose in January

    12 days ago - By Chron

    Sales of previously occupied U.S. homes rose again last month, a sign that the housing market's strong momentum from 2020 may be carrying over into this year.
    Existing U.S. home sales rose 0.6% in January from the previous month to a seasonally-adjusted rate of 6.69 million annualized units, the National Association of Realtors said Friday. Sales rose 23.7% from a year earlier. It was the strongest sales pace since October.
    Home prices also rose. The U.S. median home price was $303,900 in January, an increase of 14.1% from a year earlier.
    The red-hot housing market has left the number of...
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  • Existing home sales rise slightly in January, but record low supply weighs on market

    12 days ago - By CNBC

    After a brief pullback in December, buyers returned to the market, although they are still being hampered by record low supply.
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