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Existing Home Sales Surge Through The Holidays

Constantine Kolytiris

Constantine Kolytiris entered the Coachella Valley market with a Commercial Real Estate background in Washington State...

Constantine Kolytiris entered the Coachella Valley market with a Commercial Real Estate background in Washington State...

Jan 29 1 minutes read

Some Highlights:

  • November’s Existing Home Sales report revealed that sales are now at an annual pace of 5.61 million which is “now the highest since February 2007 (5.79 million) and is 15.4% higher than a year ago (4.86 million).”
  • Total housing inventory (or the inventory of homes for sale) fell 8.0% from last month and is now 9.3% lower than November 2015.
  • Inventory has dropped year-over-year for the last 18 months.
  • The median price for all home sales in November was $234,900, up 6.8% from last year and marks the 57th consecutive month of year-over-year gains.
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