- theMReport.com - https://themreport.com -

The Week Ahead: Gauging Existing Home Sales

The National Association of Realtors [1] (NAR) will publish the data on the sale of existing homes for February, on Wednesday, March 21, at 10 a.m. EST. The monthly data measures sales and prices of existing single-family homes for the nation, and also gives regional breakdowns. These figures include condos and co-ops, in addition to single-family homes.

Existing home sales in January were down 3.2 percent and experienced their largest decline on an annual basis in over three years, according to NAR. The median existing-home price for all housing types in January was $240,500, up 5.8 percent from January 2017 ($227,300) with January’s price increase marking the seventy-first straight month of year-over-year gains.

Total housing inventory at the end of January rose 4.1 percent to 1.52 million existing homes available for sale, but was still 9.5 percent lower than a year ago (1.68 million) and fell year-over-year for 32 consecutive months. Unsold inventory was at a 3.4-month supply at the current sales pace.

Here's what else is happening in The Week Ahead: