Sales of existing homes were up in December 10.8% vs. a year ago, and increased by 3.6% from the previous month, according to the National Association of Realtors. A strong economy and low-interest rates fueled these sales increases.
Despite these increases, some remain cautious noting that high prices and low inventories may slow future sales as Brad Hunter, managing director of the real estate advisory firm RCLCO noted, “…we would see even more transactions happening if inventories were not so tight.”