existing home sales, gina koerner, home buyers, housing demand, housing inventory, housing market, housing prices, housing recovery, saving money, selling homes, st louis by gina, st louis homes by gina, stlouisbygina, stlouishomesbygina
Existing-home sales inched up again during January, according to a recent report by the National Association of REALTORS (NAR). Existing-home sales, which include recently purchased single family, townhomes, condominiums, and co-ops are on pace to reach 4.92 million annual units, up 9.1 percent compared to January 2012.
NAR chief economist Lawrence Yun says that low inventory is creating a stronger seller’s market. “Buyer traffic is continuing to pick up, while seller traffic is holding steady,” he said. “In fact, buyer traffic is 40 percent above a year ago, so there is plenty of demand but insufficient inventory to improve sales more strongly. We’ve transitioned into a seller’s market in much of the country.”
Existing-home sales rose in every region of the country, except in the West where limited inventory has constrained sales.
www.StLouisHomesByGina.com The Gina Koerner Team 636-229-8746