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Newsletter
Seller's Market Developing

Existing-home sales edged up in January, while a seller's market is developing and home prices continue to rise steadily above year-ago levels, according to the NATIONAL ASSOCIATION OF REALTORS® (NAR). Sales rose in every region but the West, which is the region most constrained by limited inventory.

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 0.4 in January from a downwardly revised December, and are 9.1 percent above January 2012.

Regionally, existing-home sales in the Northeast increased 4.8 percent in January and are 12.1 percent above January 2012. The median price in the Northeast was $230,500, up 2.4 percent from a year ago. Find out more in NAR's press release.