It’s All In The Numbers

New home sales fell short of expectations in January after seeing gains in September, October and November.  But the drop was slight; just 0.9% from December.  The sales of new home are up 3.5% over a year ago at this same time.

During the same week, the National Association of Realtors reported that resale sales rose 4.3% in January; the third jump in the past four months.  Of all the numbers being tossed around, the number that really needs to be focused on is the current number of active properties – just 12,905. 

That is 42% LESS than where we were just 12 months ago.  Demand is, and has been, outweighing the supply.  30-year interest rates, still at record lows, did go up 0.8% indicating that although the recovery might be slow, it is happening.