January Existing Home Sales Edge Higher
mandy • February 23, 2016
The National Association of REALTORS® reported on Tuesday that January Existing Homes Sales edged up 0.4 percent from December to an annual rate of 5.47 million units, above the 5.30 million expected. This increase was the highest level since July 2015. In the past year, sales are up 11 percent, the largest year-over-year gain since the 16.3 percent annual rise in July 2013.
Existing Home Sales is a measure of the selling rate of pre-owned single-family homes.
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Home price gains continued in February, though moderation has been seen in some regions.
A sharp decline in the West sent New Home Sales lower by 1.5 percent in March.
CoreLogic reports that home prices, including distressed sales, rose by 6.8 percent from February 2015 to February 2016.
