While existing home sales in June were at a seasonally-adjusted annual rate of 5.57 million, their highest level since Feb of 2007, sales remain 22% off the peak of mid-2005.
A key reason; a low inventory that essentially hasn't budged since late 2011.
And why might that be?
A rise in the number of renter-occupied single-family homes (which aren't for sale) from 10.5 million in 2000 to 17.5 million!
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Paul Antonelli
REALTOR Professional
Broker / Owner of NextHome Antonelli Realty
Cell; 321-443-4028
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