On February 21, 2020, National Association of Realtors® (NAR) reported that nationwide existing home sales lower 1.3% to annual rate of 5.46 million homes in January of 2020 from 5.54 million homes in December of 2019, but higher 9.6% from 4.98 million homes from January of 2019.
There were 1.42 million homes supplies of available inventory in January of 2019, up 2.2% from December of 2019, but decreased 10.7% from 1.59 million homes in January of 2019; while, there were 3.1 months available inventory in January of 2020 gained from to 3.0 months in December 2019, but declined from 3.8 months in January of 2019.
On average it took 43 days to sell a home in January of 2020, grew from 41 days in December of 2019, but dropped from 49 days in January 2019.
First time buyers acquired 32.0% of homes in January of 2020, increased from 31.0% in December of 2019, and from 29.0% in January of 2019.
Cash buyers purchased 21.0% of all sales in January of 2020, rose as from 20.0% in December of 2019, but fell from 23.0% in January of 2019.
Investors purchased 17.0% of homes in January of 2020, unchanged from 17.0% in December of 2019, but higher from 16.0% in January of 2019, according to NAR on February 22, 2019.
Lawrence Yun, NAR chief economist, stated “The trend line for housing starts is increasing and showing steady improvement, which should ultimately lead to more home sales.”
For more complete information, on NAR's January 2020 existing home sales report, please click HERE
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