Dynamite Domiciles

sizzling salesLast month existing home sales absolutely sizzled, hitting a rate of 5.69 million/year, the best level since 2/07. Remarkably, this strength came despite inventory of only 1.69 million units. That’s just 3.6 months of supply at the current sales pace, the lowest level seen this century! Moreover, inventory has fallen year-over-year for 20 straight months. Unsurprisingly, the median-priced home is up a whopping 7.1% from last January. Please, more homebuilding!

Share This Post
Facebook Twitter Email

Speak Your Mind


This site uses Akismet to reduce spam. Learn how your comment data is processed.