Existing Home Sales Inch Up In January [INFOGRAPHIC]
- Existing Home Sales rose to an annual rate of 5.47 million, representing an 11% increase year-over-year.
- Inventory levels remain below the 6-month supply needed for a normal market at a 4.0-month supply.
- Lawrence Yun, NAR’s Chief Economist, warns: “The spring buying season is right around the corner and current supply levels aren’t even close to what’s needed to accommodate the subsequent growth in housing demand.”
Source: Michigan Real Estate News, John Rice Realtor Latest Real Estate News