Saturday, January 31, 2004

National Association of Realtors Reports on Real Estate in December

According to the N.A.R. "Existing single-family home sales jumped from November to December while overall sales in 2003 easily surpassed the previous record in 2002."
Existing-home sales in 2003 were up 9.6% from the previous record year of 2002.

The N.A.R. also reports "Housing inventory levels fell 7.3 percent at the end of December with 2.30 million existing homes available for sale, which represents a 4.3-month supply at the current sales pace. However, inventories were 8.0 percent higher than December 2002 when there were 2.13 million homes available.
The national median existing-home price was $173,200 in December, up 6.7 percent from December 2002 when the median price was $162,400. The median is a typical market price where half of the homes sold for more and half sold for less."

See the full press release here.

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