Comments on January Existing Home Sales

Earlier: NAR: Existing-Home Sales Decreased to 5.46 million in January

A few key points:

1) Existing home sales were up 9.6% year-over-year (YoY) in January.

2) Inventory is very low, and was down 10.7% year-over-year (YoY) in January.   Inventory always decreases sharply in December as people take their homes off the market for the holidays, and then inventory starts to increase in February and March.

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