The M Report – Scott Morgan
There’s good news and bad news for January’s existing-home sales, according to the National Association of Realtors. On the one hand, sales in January, for the fourth straight month, were ahead of the pace of sales a year ago. On the other hand, existing-home sales in all major regions declined last month to their lowest rate in nine months, with the West and Northeast getting the worst of it.
The NAR’s latest look at existing-home sales shows that while sales nationally were 3.2 percent higher this January than last, single-family transactions were down almost 5 percent to 4.82 million. This is the lowest since last April’s 4.75 million.
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