Buyer Demand is Strong
Real Estate Highlights:
- 45 million existing homes were sold in 2016 – the highest mark set since 2006.
- Inventory of existing homes for sale dropped to a 3.6-month supply, the lowest level since NAR began tracking in 1999.
- The median price of homes sold in December was $232,200. This is the 58th consecutive month of year-over-year price gains.