Existing home sales in January  increased 0.4% from last month and 9.1% from last year. The number of available homes dropped 4.9% from December and experienced a significant decrease from last year at 25.3%. Homebuyers have caused the lowest supply of housing since 2005, good news for a demanding housing market. The National Association of Realtors chief economist,  Lawrence Yun said, “buyer traffic is continuing to pick up, while seller traffic is holding steady.” More here

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