NAR: Jan.’s Existing Home Sales Up 3.1% from Dec.
Total existing sales slipped 1.7% year-over-year. Chief Economist Yun: Jan.’s “monthly gain is the start of more supply and demand.” Listings were modestly higher.
Mortgage Rates Rise; 30-Year FRM at 6.90%
Freddie Mac economist: Strong economic and inflation data “caused the market to re-evaluate the path of monetary policy, leading to higher mortgage rates.”
Fla.’s Jan. Housing: Median Prices, New Listings Up
Florida Realtors: Fla.’s single-family median price up 3.8% ($405K), condo median up 3.2% ($320K). New listings and inventory levels up in both property categories.
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