The numbers are in. Sales of existing homes in 2016 were the highest in a decade, but inventory levels were the lowest in recorded history! What does this mean for real estate investors?
Every month the National Association of Realtors releases their report on existing homes sales nationwide. But month-to-month numbers can be volatile, so the year-end report is a better window into the world of real estate in America. That report was just released today.
According to NAR, 5.45 million homes were sold in 2016, which surpassed 2015 numbers by 20 thousand sales. The data includes single-family homes, townhomes, condominiums and co-ops.
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