Home Sales Slow in January But Inventory Down Too

January numbers from NAR (National Association of Realtors) came out yesterday with home sales dropping to a 12 year low. Despite these poor sales figures, inventory levels are down 2.7%. December through February is our 'slow season' so the drop is not surprising considering all the other factors at play. The newly signed stimulus package, no matter the true impact, will give may buyers and homeowners the confidence to enter or re-enter the housing market and will provide for an additional 900,000 sales in 2009 according to the report.

The full article can be seen here:

http://www.realtor.org/press_room/news_releases/2009/02/january_ehs_inventory