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Existing Home Sales Reach Highest Annual Pace in 11 Years

Friday, December 22, 2017   /   by Karin Head

Existing Home Sales Reach Highest Annual Pace in 11 Years

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Some Highlights:



  • Existing home sales are currently at an annual pace of 5.81 million, the highest pace since December 2006.

  • The inventory of existing homes for sale has dropped year-over-year for the last 30 consecutive months and is now at a 3.4-month supply.

  • NAR’s Chief Economist Lawrence Yun had this to say: “Faster economic growth in recent quarters, the booming stock market and continuous job gains are fueling substantial demand for buying a home as 2017 comes to an end.”