Existing Home Sales Rise Again; 'Seller's Market Is Developing,' Realtors Say | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

Existing Home Sales Rise Again; 'Seller's Market Is Developing,' Realtors Say

Sales of existing homes rose 0.4 percent in January from December and were up 9.1 percent from January 2012, the National Association of Realtors reports.

The trade group also says "a seller's market is developing and home prices continue to rise."

Bloomberg News writes that the news signals the housing sector is "showing more momentum" after enjoying "its best year since 2007."

The NAR's chief economist, Lawrence Yun, says in the group's report that:

"Buyer traffic is continuing to pick up, while seller traffic is holding steady. In fact, buyer traffic is 40 percent above a year ago, so there is plenty of demand but insufficient inventory to improve sales more strongly. We've transitioned into a seller's market in much of the country."

Still, Bloomberg also has some cautionary news to pass along:

"Americans remain pessimistic about the economic outlook in February as rising gasoline prices compound the damage done by a higher payroll tax. The gap between positive and negative expectations was minus 7 this month, unchanged from January's three-month low, according to the Bloomberg Comfort Index."

Earlier Thursday, there was word that inflation remained in check last month — but that jobless claims rose last week.

Also, the Conference Board said its leading economic index rose 0.2 percent in January. That's a sign the economy should keep growing in coming months.

Copyright 2013 NPR. To see more, visit http://www.npr.org/.

NPR

Church Of Scientology Calls New HBO Documentary 'Bigoted'

The filmmaker says Going Clear, harshly critical of the Church of Scientology, is about the dangers of "blind faith." The church has hit back with an aggressive public relations effort of its own.
NPR

Think Nobody Wants To Buy Ugly Fruits And Veggies? Think Again

Remember that old movie trope, in which the mousy girl takes off her glasses to reveal she was a beauty all along? A similar scenario is playing out among food waste fighters in the world of produce.
NPR

Amazingly, Congress Actually Got Something Done

The leaders and members must, in a word, compromise. And on this occasion, Speaker John Boehner and Minority Leader Nancy Pelosi did just that, with skill and savvy.
NPR

Can Republicans Get Ahead In The 2016 Digital Race?

When Sen. Ted Cruz threw his hat into the ring, it happened first on Twitter. Political news is breaking more and more on social media, and both sides face different challenges in reaching out.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.