January 2013 Market Update

The national housing market continues to recover as a result of existing-home sales improving with low inventory supply pushing home prices upward. National Association of Realtors (NAR) Chief Economist Lawrence Yun states “Momentum continues to build in the housing market from growing jobs and a bursting out of household formation. With lower rental vacancy rates and rising rents, combined with historically favorable affordability conditions, more people are buying homes.”

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