U.S. Existing-Home Sales See Second Consecutive Month of Growth!

The latest numbers from the National Association of REALTORS® (NAR) reveal a 4.8% increase in existing-home sales, reaching an eight-month high of 4.15 million units. This marks a 6.1% year-over-year increase, the largest since June 2021.

Here's a breakdown of the local market:

• Detached Single Family Closed Sales: -4.2% to 300

• Townhouse/Condo Closed Sales: +11.8% to 104

• Mobile/Manufactured Closed Sales: +14.8% to 31

Median sales prices saw mixed results:

• Detached Single Family: -6.9% to $330,650

• Townhouse/Condo: -7.2% to $369,500

• Mobile/Manufactured: +5.7% to $166,000

  Inventory remains a challenge, with a 2.9% decrease from the previous month and a 17.7% increase year-over-year. The current 3.8-month supply of homes for sale continues to drive up sales prices nationwide, with a median existing-home price of $406,100, up 4.7% from last year. Stay informed about the latest real estate trends and market updates!

  Click Here for the Local Market Update Dec 2024, Bay County

  Click Here for Monthly Indicators, Bay County

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