National home sales metrics for January, 2017

Dynamite Domiciles

Last 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!

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Elliot F. Eisenberg, Ph.D.
GraphsandLaughs, LLC
elliot@graphsandlaughs.net
Cell: 202.306.2731
http://www.econ70.com

About TARR Report

S.M.A. Publications was formed in 1997 with a mission of providing real estate information for practitioners within the Research Triangle Park area of North Carolina. The company produces the T.A.R.R. Reports which are published monthly, quarterly and annually, covering all aspects of the residential real estate market. The publisher, Stacey P. Anfindsen, has over 23 years of residential experience in the Triangle market. He is an active real estate appraiser, educator and consultant.
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