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Existing Home Sales Slowed By A Lack Of Listings

Brent Wells November 27, 2017

Some Highlights:

  • The inventory of existing homes for sale has dropped year-over-year for the last 29 consecutive months and is now at a 3.9-month supply.
  • Existing home sales are currently at an annual pace of 5.48 million, the highest pace since June of this year, but down 0.9% from October 2016.
  • NAR’s Chief Economist, Lawrence Yun, had this to say: “While the housing market gained a little more momentum last month, sales are still below year ago levels because low inventory is limiting choices for prospective buyers and keeping price growth elevated.”

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By providing your contact information to LivingWell Realty, your personal information will be processed in accordance with LivingWell Realty's Privacy Policy. By checking the box(es) below, you expressly consent to receive marketing or promotional real estate communication from LivingWell Realty in the manner selected by you. For SMS text messages, message frequency varies. Message and data rates may apply. Consent is not a condition of purchase of any goods or services. You may opt out of receiving further communications from LivingWell Realty at any time. To opt out of receiving SMS text messages, reply STOP to unsubscribe. SMS text messaging is subject to our Terms of Use.
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