February 27, 2017 • Posted in Weekly Real Estate News Roundups
EXISTING HOME SALES CLIMB TO 10-YEAR HIGH
America’s robust economy helped push existing home sales to the highest level since the last housing boom, in spite of supply conditions that remain below normal.
That’s according to a new report from the National Association of Realtors, which says that existing U.S. home sales increased to 5.69 million on an annual basis in January, up 3.3 percent year over year and the highest since February 2007. The median home price increased to $228,900, a 7.1 percent gain from one year earlier, while inventory declined by an identical amount from January 2016.