Existing Home Sales Rise Third Time in Four Months
Housing Update: Existing Home Sales
The National Association of Realtors reports that Existing Home Sales for the month of January rose by +4.3%. This marks the third gain in the past four months.
Sales were reported at an annualized rate of 4.57 million units, which was below the estimate for a rate of 4.64 million units and last month’s revised (downward) 4.38 million.
There is currently an 6.1 month supply of homes on the market based on the current rate of sales, which is down from month’s reading of 6.4.
Prices of all homes are down -2.0% on a year-over-year level with the median sales price now at $154,700.
The data contained in this report is provided "as is" and without warranty of any kind, either expressed or implied. Although the information contained is derived from sources which are believed to be reliable, they cannot be guaranteed. Heritage Capital Management (HCM), employees, or any third party data provider shall not have any liability for any loss sustained by persons relying on the information contained herein or in any HCM publication.
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Posted on 2/22/2012 at 10:22 AM
