real estate market trends: Existing Home Sales Reach Highest Mark Since 2007
- 02/24/17 02:15 PM
Highlights: Sales of existing homes reached the highest pace in a decade at a seasonally adjusted annual rate of 5.69 million. January marked the 59th consecutive month of year-over-year price gains as the median home price rose 7.1% to $228,900. NAR’s Chief Economist, Lawrence Yun had this to say, “Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to have sparked considerable interest in buying a home." … (1 comments)
There has been concern about the diminishing supply of housing inventory and how it is impacting the real estate market. The situation might be about to change dramatically according to a recent survey by Lending Tree. The survey revealed three interesting findings. Of those surveyed: 1. 63% have a positive outlook on the economy this year. 2. 69% have a positive outlook on housing this year. 3. 71% said they are considering selling their home this year. While the first two findings are good news, the third was rather … (0 comments)
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