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HOMZ - Existing Home Sales Remain Range Bound; Inventory Remains Tight
Hoya Capital Housing
By Robert Hughes
Sales of existing homes fell 1.3 percent in January to a 5.46 million seasonally adjusted annual rate. Sales are still up 9.6 percent from a year ago and have fully recovered from a slowdown during 2018. However, sales are about even with levels from 2015 through 2017.
Sales were down in one region, flat in one, and up in two regions in January: sales were off 9.4 percent in the West but are still up 8.2 percent from the year-ago level; sales were unchanged in the Northeast, leaving sales 7.4 percent above