Earlier this week, the National Association of Realtors (NAR) released their latest quarterly report. The report covered three important aspects of the housing market:
- Buyer Demand
- Supply of Housing Inventory
- Single Family Residential Prices
Today, we want to break down the highlights of the report along with several quotes from Lawrence Yun, the Chief Economist at NAR.
Total existing-home sales (which include single family and condo) were at an annual rate of 4.97 million in the first quarter of 2015. This represents a number which is 6.2 percent higher than the pace during the first quarter of 2014.
Yun: "Sales activity to start the year was notably higher than a year ago, as steady hiring and low interest…