Home Sales Are Hot!

Real Estate Bottom Line:

• Existing home sales are currently at an annual pace of 5.81 million – this is the highest pace since December 2006.
• The inventory of existing homes for sale has dropped year-over-year for the last 30 consecutive months.
• It is currently at a 3.4-month supply.
• NAR’s Chief Economist Lawrence Yun said: “Faster economic growth in recent quarters, the booming stock market and continuous job gains are fueling substantial demand for buying a home as 2017 comes to an end.”