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Existing Home Sales Hit 2-Year High

Mortgage News > Existing Home Sales Hit 2-Year High
Date: 01/21/2020    Existing Home Sales Hit 2-Year High

Sales of existing U.S. homes rose 3.6% in December to an adjusted annual rate of 5.54 million, the highest level since early 2018, according to the National Association of Realtors. The median sales price climbed 7.8% to $274,500 from a year ago and prices are likely to continue to rise as demand surpasses supply. Inventory is 8.5% below last year’s levels. Low mortgage interest rates have helped to keep homebuying affordable as prices have increased.

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