ExistingHome Sales Begin 2017 With A Bang

Dated: 02/22/2017

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Existing-home sales began 2017 with a bang, growing 3.3 percent and hitting a 10-year high in January, according to the National Association of REALTORS® (NAR). With the exception of the Midwest, every region saw gains, with total sales reaching 5.69 million—the fastest pace since February 2007.

"Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to have sparked considerable interest in buying a home," says Lawrence Yun, NAR chief economist. "Market challenges remain, but the housing market is off to a prosperous start as homebuyers staved off inventory levels that are far from adequate and deteriorating affordability conditions

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