National Association of Realtors Existing Home Sales Report

NAR: Existing-Home Sales Fell in January-Existing-home sales declined in January with some buyers waiting to see how details of the economic stimulus package would affect them, according to the NATIONAL ASSOCIATION OF REALTORS®. At the same time, inventories fell to a two-year low.Existing-home sales, including single-family, townhomes, condominiums, and co-ops, fell 5.3 percent to a seasonally adjusted annual rate of 4.49 million units in January from a level of 4.74 million units in December, and are 8.6 percent lower than the 4.91 million-unit pace in January 2008.


Lawrence Yun, NAR chief economist, said there was understandable hesitation by some home buyers. “Given so much stimulus package discussion in January, some would-be buyers simply sat out for clarity and certainty on the nature of housing stimulus,” he said. “The housing market will soon get a lift from very favorable buying conditions—not only from improved affordability, but also from the stimulus of an $8,000 first-time home buyer tax credit, and higher conforming loan limits that will allow more people to tap into .........


Click to see the entire Current National Association of Realtors Existing Home Sales Report.

Search Asheville Real Estate

Information about Home Staging in Asheville.