Existing Home Sales Bounce Back Despite Low Inventory
A recent post in Keeping Current Matters peaked our interest so we thought we’d share it here on our blog. According to this infographic, home sales in December were 14.7% higher than in November, making it the largest month-over-month increase ever recorded. Home inventory levels are also still well below historic norms at a 3.9-months supply. And lastly, the median home price is up 7.6% from last year, which makes it the 46th consecutive month with year-over-year price gains.
So what does this mean? That despite low housing inventory, existing home sales bounced back nicely at the tail-end of 2015, which leads to promising market trends for 2016.
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