HOME PRICES INCREASE; SALES DECREASE IN JANUARY
There were 1,644 home closings in January of 2008, which is down 28% from the 2,289 closings in January of 2007. Inventory at the end of January of this year was 21,952, compared with 17,264 at the same time last year. Click here for more complete details on the data for January, as well as historical information.
The year has started with a considerable amount of energy in the real estate market and there is much conversation about an increase in showings. While it may take a few months to see the impact in closings, there are some encouraging signs such as an increase in the number of pendings from last month and the favorable trends in prices.
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