Existing-home sales nationwide increased 2 percent in January to a seasonally adjusted annual rate of 6.04 million units compared to 5.92 million units for the same period a year earlier, NAR reported today.
The national median existing-home price was $168,700 in January, up 5.4 percent from January 2003 when the median price was $160,000. Housing inventory levels declined 4.3 percent at the end of January with 2.20 million existing homes available for sale, representing a 4.4-month supply at the current sales pace, according to the report.