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Existing Home Sales Showing Resilience and Lots of Potential for 2020
Friday, February 21, 2020
If it's January it must mean fewer home sales. That,
at least, has been the recent pattern according to National Association of
Realtors (NARs). Existing home sales have bounced up and down on a near monthly
basis. Strong sales in December, they rose 3.6 percent month-over-month, were expected
to result in a slowdown in January and they did. Sales of single-family homes, townhomes, condominiums,
and cooperative apartments were at a seasonally adjusted annual rate of 5.46
million last month, down 1.3 percent from the 5.54 million pace in December. However,
for the second straight month overall sales substantially increased on an
annual basis, up 9.6 percent from the 4.98 million sales in January 2019. Single-family sales dipped 1.2 percent to an annual
rate of 4.85 million from 3.91 million but were 9.7 percent above those a year ago.
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